Coronavirus (COVID-19) - support for business
Guidance on the NHS test and trace service for employers, businesses and workers:
Business Representative Organisations and Trade Associations are providing coronavirus related support for specific sectors. You can read more here
The government’s Coronavirus Job Retention Scheme will remain open until the end of October. In a boost to millions of jobs and businesses, Rishi Sunak said the furlough scheme would be extended by a further four months with workers continuing to receive 80% of their current salary.
Businesses have the flexibility to bring furloughed employees back to work part time from 1 July as part of the government’s plan to re-open the UK and kick-start our economy.
Previously, the Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.
The package includes 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 offering loans of up to £5 million for SMEs through the British Business Bank
- a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
- the HMRC Time To Pay Scheme
The Government has announced a new scheme for those in need of smaller loans. Businesses can apply for the new Bounce Back Loans up to a maximum of £50,000, or 25% of turnover, with the government paying the interest for the first 12 months. The loans will be available from 9am on Monday and the Government will support lending by guaranteeing 100% of the loan.
For more details, please visit this link:
To learn more about how to access the various financial support schemes, please see the link here: https://www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19
There is a BEIS Business Support Helpline for any queries: 0300 456 3565
Watch videos and register for the free webinars to learn more about the support available to help you deal with the economic impacts of coronavirus here
Safety in the Workplace
The government, in consultation with industry, has produced guidance to help ensure workplaces are as safe as possible.
These 8 guides cover a range of different types of work and can be accessed here: https://www.gov.uk/guidance/working-safely-during-coronavirus-covid-19
Updated 2nd July 2020