UK Gave $25.2Bln To Small Businesses In COVID-19 Support Grants

MOSCOW (UrduPoint News / Sputnik - 19th August, 2022) English micro, small and medium enterprises received 21.3 billion Pounds ($25.2 billion) in COVID-19 support grants, according to revised estimates published Friday.

"Government figures show �21.3 billion allocated to micro, small, and medium sized businesses in England through COVID-19 business grants scheme," a statement read.

The money was allocated to businesses involved in accommodation and food services, wholesale and retail, and arts, entertainment and recreation. Hospitality businesses received a third of all grants as the worst-hit sector of the economy.

Small Business Minister Jane Hunt described small businesses as the backbone of the national economy. By putting billions of pounds into business recovery, the government assured livelihoods for communities they form a key part of, she said.