Lambeth Council has made £4.2 million more available to businesses and organisations hardest hit amid the Covid-19 crisis.

The funds will support over 370 organisations, including independent restaurants, pubs, cafes, clubs and music venues, cultural organisations, charities, market traders, and businesses in shared workspace.

A council survey found that 87 per cent of businesses in Lambeth have been negatively impacted by the coronavirus outbreak and have lost income.

For pubs and restaurants this rises to 93 per cent, while a survey by the Music Venue Trust found that 82 per cent of the UK’s live venues are at risk of collapse by the end of the month.

In the wake of the pandemic, the council developed the Lambeth local economy hardship fund, awarding grants from £5,000 to £25,000 to badly hit businesses, charities, and not-for-profit organisations in a bid to help them survive.

The new funds come from a mix of Government funding and the council’s own resources.

Councillor Matthew Bennett, cabinet member for planning, investment, and new homes said the borough’s social, creative and community sectors “play a critical role in Lambeth’s thriving local economy, support thousands of jobs, and are an important part in what makes our town centres, and Lambeth as a whole, so vibrant”.

“But these sectors are amongst the most threatened by the impact of this virus.

“Government support is reaching many businesses and organisations, but there are significant gaps meaning many are still missing out on support.

“In response we have quickly put together a fresh package of support using government funding topped up from our own financial resources to protect our locally owned small businesses, leisure industry, cultural sector and charities.

“This builds on the work we have already undertaken to support businesses and protect jobs in the face of this unprecedented disruption to the economy,” he said.

Elly Foster, co-chair of Brixton BID and managing director of Satay Bar, Market House, and Nanban said: “This support from Lambeth will be vital for the survival of many important businesses and charitable organisations across the borough.

“Nearly all hospitality and night time economy businesses have been unable to operate through the crisis and have been hit hard.

“This funding will be crucial in supporting those who have been left out of the Government’s grant schemes and rebuilding our economy.”

The fund has four different categories – independent hospitality, arts and culture at risk, charitable organisations, and shared workspaces and market traders.

For the arts fund, the council will ensure that at least 40 per cent of organisations benefiting are Black, Asian and minority ethnic and/or female led.

Cllr Bennett added: “This package of support has support been designed based on local need and in light of limited financial resources.

“While this will provide a vital lifeline for many businesses and charitable organisations, we know that this won’t help everyone.

“We will continue to call on Government for more support to protect our economy, especially for our major cultural institutions at risk.”