New figures released reveal that companies in the Yorkshire and Humber region have received billions of pounds in government support during the COVID-19 crisis.
According to these stats, over 76,000 firms in these areas have been awarded more than £2.8 billion to help them make it through the crisis, with this money coming from government loans. Furthermore, the same figures also show that £1.1 billion worth of grant funding has been handed out to 102,000 companies across the Humber and Yorkshire region since the pandemic began back in March.
Companies and their employees have also benefited significantly from the government’s furlough scheme, as close to three out of every 10 people employed by a firm based within Yorkshire and the Humber has been furloughed. That amounts to 29% of employees in the region, while 183,000 self-employed people in Yorkshire have received SEISS grants.
As these figures showing the extent of the help provided by the government were released, Rishi Sunak, the Chancellor of the Exchequer, said:
“We said we would do whatever it takes to protect jobs and businesses from the economic emergency brought on by Coronavirus – and that is exactly what we did.”
The chancellor went on to add that the stats showed the positive impact of the support offered by the government. Those firms that sought advice from reputable accountants in South Yorkshire will likely have also benefited from their support and expertise while navigating the financial difficulties created by the pandemic.