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
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
Essex County Council Support for Businesses
Essex County Council has confirmed it will allocate £2.2m of the funding it received when the county entered Tier 2 restrictions to allow local businesses to make adaptations to their premises and/or operations. This is in addition to the £29m in business support funding allocated directly to district, borough and city councils.
Feedback from businesses, and in particular the hospitality and leisure sectors along with other local businesses who have been most affected, has been that they want a quick, simple, targeted and consistent approach to be taken in releasing grant funding.
ECC has distributed the £2.2m to district, borough and City Councils so that they can administer a single grant scheme to support local businesses who are impacted by the COVID restrictions. Businesses will need to apply for the grants via their local district, borough or city council websites, from next week (23rd November onwards). Businesses are advised to check their local district, borough or city council website from next week onwards.
A further £2.2m which the council received as part of the Tier 2 restrictions funding was allocated to welfare support for the county’s most vulnerable residents.
The grants will address the hardship many businesses have faced as they have either had to close or who have been able to trade but have been severely affected by the restrictions, regardless of whether they pay business rates or not. The ECC funding will allow businesses to adapt their businesses to generate income while restrictions remain in place so they are able to reopen when they are removed. The County Council has also relaxed highways restrictions on businesses adapting outdoor areas across the ECC area.
The ECC funding will award eligible businesses up to £1,500 for adaptations, in addition to the £3,000 in support available from district councils based on their size, their sector and the degree of loss or hardship.
Businesses should apply via district, borough and city councils on websites below:
- Castle Point
- Epping Forest
More details on support for businesses can be found here- https://www.essex.gov.uk/support-for-employers-and-businesses