A small business charity supported by the Mail has been hailed by a Government minister after it raised £160,000 in a week.
The Tide Charity, which Money Mail and This is Money helped launch last week, will provide grants of £1,000 to small businesses hit hard by coronavirus.
Business boost: The Tide Charity will provide grants of £1,000 to small firms hit hard by coronavirus
Applications for the funds, which are available to businesses with up to 50 employees, will open on November 30.
At least 160 firms will benefit from the scheme, which is a partnership between Tide and the Federation of Small Businesses.
Earlier this week small business minister Paul Scully said the charity was a ‘great initiative’ for small businesses in need.
Donors so far include ClearBank, IT firm Transputec, and Tide bank’s founder, George Bevis, and chief executive Oliver Prill.
The charity will also offer advice on adapting to the pandemic. Visit tidecharity.org.uk to donate.
Baroness Brady: Why I’m backing Tide to help small firms
Conservative peer Karren Brady is stepping up as a champion of small firms in the Covid-19 crisis
Baroness Karren Brady is stepping up as a champion of small companies in the Covid-19 crisis, by backing the charity set up by small business bank Tide.
She acknowledges that the Government has extended huge amounts of help, but says: ‘Some small businesses still fall through the cracks. Many are not financially resilient.
‘These micro-grants of £1,000 are helping companies with cash flow issues and those that are really on the verge of collapse.’