Cameron pledges £10m for SMEs hit by flooding crisis

David Cameron has promised a £10m hardship fund to help small and medium-sized businesses affected by the recent storms get “back on their feet”.

Companies which have suffered a “significant loss of trade” will stand to receive financial help from the government so they can clear flood damage and keep trading as quickly as possible.

In addition, companies which file late accounts due to dealing with the storms will not be penalised.

“Dealing with these floods will be a long haul, requiring a stepped-up national effort with the whole country pulling together,” Cameron said.

The fund, which will be provided by the Department for Business Innovation and Skills, expects to pay out about £2,500 per business.

Meanwhile, the Labour party is putting pressure on the government to apply for emergency EU cash.

Now read:

UK floods: “Unparalleled natural crisis” could wipe £14bn off UK economy

Floody hell Datchet

Readers' comments (1)

  • The cost of rebuilding flood affected areas will be huge. Yet more business won’t be able to absorb the loss of earnings – the insurance companies will take massive hit – this can potentially wipe out any form of recovery we were hoping for. Flood affected families will not rush to spend money on the high street – more rebuilding lives. I found a good free guide covering all aspects of flood related insurance policy questions here: http://ow.ly/tFXF0

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