How government restart grants will help the hospitality industry bounceback

After more than a year of adversity through repeated COVID-19 lockdowns, a shining light at the end of the tunnel is now in sight for the hospitality sector. This buoyancy has been further boosted by the inauguration of the government's Restart Grant scheme, which will give a significant cash grant to eligible businesses.

So, what exactly does this mean for the hospitality industry and how do you know if your business qualifies for this scheme?

What is the Restart Grant?

This scheme is intended to support and encourage the safe reopening of businesses as coronavirus restrictions are gradually lifted during the UK government's roadmapout of lockdown. It will provide essential financial capital to businesses across a variety of sectors, including those in the hospitality and hotel industries, from April 1st 2021.

Who is eligible and how much will be awarded?

Businesses in the hospitality, hotel and leisure industries will be eligible for a single grant of up to £18,000, depending on the value of their business and provided they have not exceeded their subsidy allowances. Businesses with a lower valuation are still eligible for the grant but will receive less than the maximum of £18,000.

Although the scheme has been specifically formulated by the central government to help businesses, it will be the local councils who will award the grants. To be eligible for the grant, the business must be rate-paying and based in England.

MPs have vehemently encouraged local councils to award the grants as swiftly and simply as possible in order to be sure that communities are ready to have their local hospitality businesses up and running as the restrictions gradually start to ease.

What does this mean for the hospitality sector's continued recovery and the economy in general?

Not only does this create renewed positivity for hospitality recovery, but it also gives businesses in this sector some much-needed financial capital. For hotels, bars and restaurants that are finally planning to reopen their doors, this grant will ease the financial struggle and aid with ventures such as making venues safe against COVID-19.

This sizeable, one-off grant will provide a boost in liquid capital to ensure that businesses can concentrate on attracting new and returning customers and spend time on adequate hotel recruitment and bar recruitment for new staff. In turn, this will boost the sector's employment figures and will help to kickstart the economy as customers return to their favourite bars, restaurants and hotels.

If you're looking for a hospitality recruitment specialist you can depend on, get in touch with our team at JWR today.