£10 Million Government Fund Launched to Rescue England’s Fishing Industry
The Marine Management Organisation (MMO) has unveiled a new £10 million Fisheries Response Fund to support England’s struggling fishing and aquaculture businesses hit hard by plunging markets.
Fishing Firms to Get Vital Cash Boost
From Monday 20 April 2020, over 1,000 eligible fishing vessel owners will be contacted directly by email in waves to access the fund. Aquaculture businesses can expect further details next week.
The Fisheries Response Fund (FRF) aims to cover fixed business costs for operators badly affected by a sharp downturn in both export and domestic demand for fish and shellfish.
Top Boss Speaks Out on Industry Crisis
“We know fishing businesses are in deep trouble with market slumps hitting fish and shellfish sales,” said Tom McCormack, CEO of the MMO. “This is our problem too. Thanks to data from the fishing industry, we’ve pinpointed where the help is needed most. We’ll keep listening and adapting to ensure support hits the mark.”
Other Support Schemes Still Open
The seafood and fisheries sectors are also urged to tap into existing government programmes like the Business Interruption Loan Scheme and the Coronavirus Jobs Retention Scheme to weather the storm.
