COVID-19 BUSINESS SUPPORT UPDATE
Further to recent communication, new and improved measures have been announced. Please click on the links below for most recent information and to access further updates as they are announced.
This includes a package of measures to support businesses including: • a statutory sick pay relief package for SMEs • a 12-month business rates holiday for all retail, hospitality and leisure businesses in England • small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief • grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000 • the Coronavirus Business Interruption Loan Scheme to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance • the HMRC Time To Pay Scheme
Support For Businesses https://www.gov.uk/…/guidan…/covid-19-support-for-businesses Guidance for Employers https://www.gov.uk/…/guidance-for-employers-and-businesses-…
With regards to the Coronovirus Business Interruption Loan Scheme (CBILS), we won’t know the precise details until next week as to how or when they will become available. Please note that our business funding partners are in daily contact with lenders outside of the high street banks to understand how their appetite might be affected by the changes. Whilst applications will be facilitated to lenders who can support CBILS, we would encourage you to explore all of the available options to compare the timescales and pricing to have an informed decision.
Please do get in touch if you need to discuss any matters which are of concern to you.