The Mayor has partnered with leading firms to create the High Street Fund, a charitable body which will make grants to those businesses affected by robbery and fire damage.
An initial sum of £3m has been donated by businesses who will also provide support services to help affected retailers and firms. Backers include Barclays, BP, Capita, Deloitte, Lloyds Banking Group, RBS and Santander.
The Mayor has also provided £500,000 of Greater London Authority funding which is ring-fenced for grants to London businesses.
Mayor Johnson, said: “I have seen at first hand businesses showing remarkable resilience and true fighting spirit. However, it is no secret that many high streets in the capital are still suffering as a result of the appalling events earlier this month.
“Small businesses need urgent help to repair damage and get goods back on the shelves and the High Street Fund will help to do just that.”
The fund is being Chaired by Sir William Castell who is also Chairman the Wellcome Trust.
Sir William said: “Everyone was shocked at the damage caused by the riots, and for numerous small businesses the hardship is still being felt.
“The High Street Fund will be the channel for the British business community to rally round and aid smaller businesses caught up in the disturbances.”
“As a businessman, I know that at times of crisis there is a fine line between survival and failure. The High Street Fund will provide immediate financial assistance to help our shopkeepers and traders. By coming together we aim to help affected businesses to get back on its feet”
Audio: Boris Johnson and Sir William Castell launch the High Street Fund
Capita are running a freephone helpline, 0800 093 5858, open from 10:30 today and then from 09:00 to 17:00 Monday to Friday, to assist businesses applying for grants from the fund.
Companies and members of the public can make donations online at thehighstreetfund.co.uk
