'The government will back SMEs through difficult days ahead'

Beyond the high-profile collapse of at least one airline buckling under the pressure of travel bans, we’ve seen countless others impacted by the cancellation of flights, holiday bookings and events.

Thankfully, the government has said it will do “whatever it takes” to support small businesses.

Following last week’s ambitious Budget, Tuesday saw the government announce a further £350 billion package to help small businesses which are struggling to cope.

This could not come at a more crucial time.

The package includes a complete moratorium on business rates for those in retail, leisure or hospitality sectors for one year.

Many small firms in the travel industry should qualify – it’s best to speak to your local authority as soon as possible if in any doubt.

Meanwhile, those who qualify for the Retail Discount can access cash grants of £25,000, and all those that qualify for small business rates relief – with rateable values under £15,000 – can access grants of £10,000.

Clearly this is good news for many businesses in the travel sector, but we do not yet know exactly when these grants will become available.