Businesses in Portsmouth, Gosport, Havant, Fareham and the Meon Valley supported through Covid-19 with more than £500,000,000

THOUSANDS of businesses and self-employed people from across The News’ area have been able to access millions of pounds of government cash to help keep them in business.
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Latest figures show that 8,657 businesses have been able to access cash grants and loans, as well as 24,100 self-employed people, totalling more than half a billion pounds from across six constituencies covered by The News - Portsmouth South, Portsmouth North, Fareham, Gosport, Havant and the Meon Valley.

Amongst the raft of support, 24,100 Self-employment Income Support claims have been submitted worth £74,200,000, 8,657 Bounce Back Loans have been approved worth £251,969,125, 438 loans have been approved under the Coronavirus Business Interruption Loan Scheme worth £86,548,390 and a further 8,173 cash grants have been given out worth £97,818,750.

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Businesses have also benefited from a business rate relief - 3,646 businesses and 84 nurseries in total.

Ray Bezani, owner of The Anglesey HotelRay Bezani, owner of The Anglesey Hotel
Ray Bezani, owner of The Anglesey Hotel

Portsmouth North MP Penny Mordaunt hailed the measures.

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76,000 people furloughed in the Portsmouth area

She said: ‘I never forget that these and other schemes are paid for by taxpayers. We have got to ensure these schemes are effective and can keep as many businesses going as possible. Our local firms have been amazing: they have adapted and got on with it. I’m incredibly proud of them.’

Havant MP Alan Mak also praised the support. He said: ‘This year has been hugely challenging for people and businesses across the Havant constituency, and these latest figures demonstrate the scale of support that the government has put in place to support lives and local livelihoods.

Havant MP Alan Mak with Colin Telford from the Hayling Island Book ShopHavant MP Alan Mak with Colin Telford from the Hayling Island Book Shop
Havant MP Alan Mak with Colin Telford from the Hayling Island Book Shop

‘The government’s agenda to level up the whole country has been so important – giving businesses the confidence to retain and hire, create jobs and ensure young people have the opportunity of a better start.’

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Businesses which occupy properties with a rateable value of less than £51,000, in the retail, hospitality and leisure sectors, were able to apply for grants of either £10,000 or £25,000.

One business to benefit was the independent book store the Hayling Island Book Shop which was given a £10,000 grant.

Sam Bowers, managing director of Quattro Sam Bowers, managing director of Quattro
Sam Bowers, managing director of Quattro

Owner Colin Telford said they used the money to pay rent, rates, bills, insurance and wholesalers so they could eventually reopen without debts.

He said: ‘The grant kept us afloat during lockdown when we still had fixed costs going out and not much coming in. Without it we undoubtedly would have gone under. It helped us to stay in business. We are very grateful.’

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Businesses were also able to apply for Bounce Back Loans between £2,000 and up to 25 per cent of their turnover up to £50,000. The government guarantees 100 per cent of the loan and there are no fees or interest to pay for the first year.

In Gosport, The Anglesey Hotel is one of the companies that has taken advantage of the Bounce Back Loan scheme - using part of the money to help stylishly refurbish the bar and restaurant area.

Penny Mordaunt, Portsmouth North MP.Penny Mordaunt, Portsmouth North MP.
Penny Mordaunt, Portsmouth North MP.

Owner Ray Bezani said: ‘It was great to use the Bounce Back Loan for exactly what it was intended for - to stimulate the economy. So not only is there now a great new venue in Gosport but in addition, thousands of pounds have been spent in the local economy generating work and wages during what was otherwise a completely stagnant period.’

Gosport MP Caroline Dinenage called the support a ‘lifeline’.

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She said: ‘It’s a great pleasure to see an incoming local business like the Anglesey Hotel emerging from the Covid crisis with such positivity, taking full advantage of the support available and demonstrating a great passion to continue serving the local community. Huge credit to Ray and his team.

‘I know from talking to local businesses that the unprecedented Government support has been a lifeline for so many, keeping them afloat through the Covid crisis and helping them emerge from it.’

Small and medium-sized businesses could also apply for loans and other kinds of finance up to £5m through the Coronavirus Business Interruption Loan Scheme. The government guarantees 80 per cent of the finance to the lender and pays interest and any fees for the first 12 months.

Quattro Foods, a manufacturer of premium quality recipes and products for the hospitality, retail, education and healthcare sector, based in Portfield Road, Portsmouth, was able to access a Coronavirus Business Interruption Loan.

Gosport MP Caroline DinenageGosport MP Caroline Dinenage
Gosport MP Caroline Dinenage
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Sam Brower, managing director, said: ‘Covid-19 struck and we lost 98 per cent of sales pretty much overnight. Thanks to our strong operating performance we were able to quickly access a Coronavirus Business Interruption Loan (CBIL) and that really has been a godsend.’

Some businesses could also benefit from a business rate relief, and cash grants from their local authority.

For the self-employed, the Self-Employed Income Support Scheme paid people adversely affected by coronavirus a grant worth 80 per cent of their average monthly profits over the last three years, up to £2,500 a month, for three months. A second grant is available covering June to August, available at 70 per cent of average monthly profits.

Meon Valley MP Flick Drummond said she remained hopeful for the country’s economic recovery. She said: ‘The different kinds of help have safeguarded jobs, and backed up the huge efforts people have made to adapt to these unprecedented challenges. The fundamentals of our economy were strong coming into this pandemic, and the economy is moving on again as consumers and companies feel their confidence growing.’

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Fareham MP Suella Braverman said: ‘This year has been hugely challenging and I am proud of the way that the community has rallied together. These latest figures underscore the scale of support that the government has put in place to support lives and local livelihoods.’

Chancellor Rishi Sunak said: ‘Our plan to support businesses and individuals is one of the most comprehensive in the world. As these figures show, we are currently supporting millions of workers and businesses through these tough times so we can recover as quickly as possible.’

National figures

2 million Self-employment Income Support (SEISS) claims have been submitted worth £6.1 billion

Bounce Back Loan Scheme (BBLS) has seen 464,393 approved loans so far worth £14.18 billion

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Coronavirus Business Interruption Loan Scheme (CBILS) has seen 40,564 loans worth £7.25 billion approved so far

the Coronavirus Large Business Interruption Loan Scheme (CLBILS) has seen 86 approved loans totalling £0.59 billion

Constituency figures

Workers furloughed

Self-employment scheme (amount of claims/total cost)

Bounce Back Loans (amount of claims/total cost)

CBILS (amount of claims/total cost)

No business rates

Cash grants (amount of claims/total cost)

Portsmouth South

13,400

3,800 £10,600,000

1,404 £41,716,138

39 £5,138,100

1,001 biz 14 nurseries

1,746 £21,467,500

Portsmouth North

13,600

5,000 £15,500,000

1,675 £47,653,533

71 £14,882,283

608 biz 20 nurseries

1,375 £16,078,750

Fareham

13,500

3,600 £11,300,000

1,527 £46,818,151

99 £20,797,986

596 biz 11 nurseries

1,369 £17,187,500

Gosport

11,500

3,200 £9,800,000

977 £25,589,401

57 £13,276,250

438 biz 9 nurseries

1,105 £13,075,000

Havant

12,100

4,300 £13,700,000

1,183 £31,321,434

57 £10,180,400

428 biz 17 nurseries

1,002 £11,512,000

Meon Valley

11,900

4,200 £13,300,000

1,891 £58,870,468

115 £22,273,371

575 biz 13 nurseries

1,576 £18,498,000

Totals

76,000

24,100 £74,200,000

8,657 £251,969,125

438 £86,548,390

3,646 biz 84 nurseries

8,173 £97,818,750

Bounce Back Loans and CBILS information from the British Business Bank up to Aug 2

Coronavirus Job Retention Scheme, SEIS, business rates statistics from HMRC up to June 30

Cash grant funding figures from Department for Business, Energy & Industrial Strategy and Ministry of Housing, Communities & Local Government up to July 9

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