24 August 2011

£3.5m fund for riot-hit businesses

A new £3.5million fund is being made available to businesses affected by the riots and in need of emergency financial help.

The ‘High Street Fund’ is a charitable fund offering immediate cash support to help smaller businesses across the UK that suffered from the disturbances. It is made up of £3million from Barclays, BP, Capita, Deloitte, Lloyds Banking Group, RBS and Santander and another £500,000 made available by the Mayor of London Boris Johnson. The Mayor's contribution will be ringfenced for London businesses. The companies and City Hall will also offer support services and expertise for the businesses.

The Fund founders hope that more leading companies and individuals will also donate to help as many small businesses as possible.

Boris Johnson, said: "I have seen at first hand businesses showing remarkable resilience and true fighting spirit. However, it is no secret that many high streets in the capital are still suffering as a result of the appalling events earlier this month.

"Small businesses need urgent help to repair damage and get goods back on the shelves and the High Street Fund will help to do just that. I have absolutely no doubt that if we pull together and give our support to the fund we can ensure that London emerges as a stronger and even more prosperous city than before."

This is in addition to the Mayor's £50 million London-wide regeneration fund to invest in larger scale rebuilding projects to restore and improve all areas affected by the riots and the £20 million London Enterprise Fund for Croydon and Tottenham to provide rapid improvements such as rebuilding properties, providing business rate relief, investing in transport infrastructure and supporting local employment.

Mr Johnson has been meeting and listening to residents and business owners in the worst hit areas of the capital, including Clapham Junction, Croydon, Enfield, Tottenham, Ealing, Stoke Newington, Peckham, Hackney, Lewisham and Woolwich.

For more information on the Fund and how to apply for assistance, please visit http://www.thehighstreetfund.co.uk/

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