City Hall

New fund for businesses impacted by recent tragedies

30 June 2017

The Mayor of London, Sadiq Khan, has announced his intention to establish a new fund to help businesses which have been impacted by recent terror attacks and the Grenfell Tower fire. The fund will include money provided by LEAP to support businesses affected by the terrorist incident at Borough Market. In addition, LEAP is looking at how the London Growth Hub can facilitate business support to supplement any direct grants.

The Mayor is looking to set aside up to £300,000 to be available for businesses which have been unable to trade or otherwise directly affected following recent appalling events. Through the fund, the Mayor will also ensure businesses receive the advice and support they need to get back on their feet.

He has instructed City Hall officials to establish the fund urgently so that companies, particularly small businesses, can obtain funding and access support immediately.

The Mayor believes that London’s businesses situated close to terror scenes and the Grenfell Tower fire are amongst the hidden victims of the recent horrific events seen in the capital. He is also calling on Government to match his support and investment.

The Mayor of London, Sadiq Khan, said: “London has endured a very difficult few months and no one will ever forget the lives lost and people injured in recent terror attacks and the Grenfell Tower fire.

“While the human cost of these events has been unimaginable, there has also been a financial cost to many businesses which have found themselves unable to trade.

“I want this fund up and running as a matter of urgency so that it can help those businesses, particularly family owned or small ones which may be struggling due to these appalling events. I will also be asking the Government to match this funding pound for pound.”

A relief fund has already been established for traders at Borough Market and LEAP has offered an initial contribution of £10,000 which will form part of the Mayor’s new scheme. Further details will be announced in due course.

 

Businesses affected by the incident at Borough Market can find out more information on support available here: betterbankside.co.uk/trader-fund

Businesses affected by the Grenfell Tower fire can find out more information on support available here: https://www.pbc.co.uk/