£10m flood support package: what it will include

The Somerset Levels have been flooded for weeks Photo: ITV News West Country

This morning the Prime Minister announced a £10 million support package for businesses affected by the floods. Here are some details about what it will include and who can benefit:

  • SME (small and medium sized) businesses that have been flooded - or in flood affected areas - and that have suffered 'significant loss of trade' since December 2013 will be able to apply.
  • Funding can be claimed for clean up costs, materials and costs to help them keep trading.
  • Extra time to file accounts will be given to affected businesses with no penalties for late filing.
  • The money is being made available to local authorities. They will be administering and delivering the support.
  • Funding allocations to each individual local authority will be announced on Thursday 20th Feb and will be based on the number of businesses affected in the area.
  • Local authorities will decide how much funding should be given to an individual business but Government guidance highlights equivalent schemes where the average claim was £2,500 per business.

A dedicated business support helpline has also been set up which offers a free 1 hour call with an adviser. The number is 0300 456 3565 and calls are now being taken.