Extra Support for businesses left struggling in the wake of the Grenfell Tower fire
16 March 2018
LEAP has pledged extra £65k to support small local firms left struggling in the wake of the Grenfell Tower fire to add to the previous support of £250k.
A number of small businesses are still feeling the effects of reduced trade and fewer people spending time in the area eight months after the fire. Many have seen their incomes hit and are still having difficulties covering expenses such as rent and payments to suppliers.
The money will be provided to local enterprise agency the Portobello Business Centre (PBC) to deliver the support on behalf of the London Growth Hub, LEAP’s business support initiative. PBC will work with the businesses to identify their business needs and the steps that need to be taken.
The Mayor has also written to a number of banks, urging them to delay collecting payments from businesses who are still affected by the aftermath of the fire, and is calling upon utility firms to do the same.
The Mayor of London, Sadiq Khan, said: “We are now nine months on from the tragic events at Grenfell Tower and the local business community continues to suffer from the impact of that night. I’m committed to continue doing all I can to help business affected to recover, including providing financial support to help them cover their costs.
“I’ve also written to a number of banks urging them to help these businesses through this extremely challenging period through measures including extending their credit and offering repayment holidays – and am calling upon utility companies to do everything they can to support these businesses through this difficult time.
“I trust they will recognise these are exceptional circumstances – and encourage Londoners to do their bit to help by visiting the area and supporting these local businesses.”
These latest payments form part of the London Growth Hub, the Mayor’s business support initiative which works with small and medium-sized businesses. Set up by the London Economic Action Partnership (LEAP) in 2016, the Growth Hub has already worked with nearly 2,000 businesses.
This latest support is in addition to the £50,000 provided last December – part of a total of £250,000 in payments from the Mayor, the Royal Borough of Kensington and Chelsea and the Department for Business, Energy and Industrial Strategy.
Allen Pluck, Chief Executive of Portobello Business Centre said: “Existing businesses are in survival mode, but if we can help this community now, we believe we can achieve sustainable and economic well-being in the longer term.
“There are a number of business who are really struggling. The contribution from the London Growth Hub will enable us to work with all of the businesses affected by the tragedy in order to ensure they don’t JUST survive, but thrive.”