Covid 19 Business Support
Business Financial Support for Covid 19
In response to the unprecedented times we find ourselves in, the government has released a full range of business support measures for UK businesses, those who are self-employed and employees.
If you need any help or guidance with support available please contact us.
Small Business, Retail, Hospitality and Leisure Grants
Small Business Grant
In the Budget on 11 March 2020 the Government announced a scheme through which small businesses with a rateable value of under £15,000 and in receipt of small business rate relief or rural rate relief would be eligible for a grant of £3,000. This was later increased to £10,000.
To qualify for the grant, businesses must have been liable for the business rates on their property on 11 March 2020 and be in receipt of small business rate relief.
Retail, Hospitality and Leisure Grant
In response to the COVID-19 crisis, the Government announced that properties in the retail, hospitality and leisure sectors with a rateable value of up to £51,000 would be able to receive a cash grant of either £10,000 or £25,000. This is subject to state aid limits.
To qualify for a grant, businesses must have been liable for the business rates on their property on 11 March 2020 and have an entitlement to Expanded Retail Discount. As Expanded Retail Discount doesn’t begin until 1 April 2020, eligibility will be decided based on whether a property would have qualified for the discount had the scheme been in place on 11 March 2020.
View Expanded Retail Discount definition PDF (opens in new window)
Businesses that qualify under the scheme with a rateable value of up to £15,000 will be eligible for a grant of £10,000 and businesses with a rateable value of between £15,001 and £50,999 will be eligible for a grant of £25,000. There is one grant payable per property.
Government Finance Finder
The government ‘Finance Finder’ tool will ask you to fill out a simple online questionnaire, which can take minutes to complete. You will then be directed to a list of all the financial support you may be eligible for.
Business Rates Holiday for Retail, Hospitality and Leisure Businesses
A 100% business rates holiday for the next 12 months for all retail, hospitality and leisure business, no matter what their rate-able value is, will be available.
New Coronavirus Business Interruption Loan Scheme (CBILS)
Business Operations Updates
Pensions Guidance
The Pensions Regulator has published new Covid-19 guidance for employers.
Business Trading
The Government published updated guidance earlier in the month about which businesses are to close, can remain open and the situation with tradespeople carrying out repairs and maintenance in homes.
Debt Recovery
The Government has introduced temporary new measures to safeguard the UK high street against aggressive debt recovery actions during the coronavirus pandemic. Statutory demands and winding up petitions issued to commercial tenants are to be temporarily voided and changes made to the use of Commercial Rent Arrears Recovery.
Making Connections
Worcestershire Local Enterprise Partnership have launched their Making Connections series of videos and podcasts for local businesses. These are updated weekly to provide advice and guidance on useful topics such as HR, finance, insurance and business leadership.
Key Information
Business Support Helpline
The Government has set up a business support helpline on 0300 456 3565. This is available Monday to Friday from 9am to 6pm
Information and advice
Worcester City Council will issue updates on the website here and via Twitter @myworcester
How can businesses help?
Firms who wish to help the community can now easily volunteer their goods, services and time through the Worcestershire County Council #Here2Help campaign.
What is the impact on businesses? Have your say
Worcestershire Business Central is asking local businesses to complete an online survey to assist them in reporting the impact of coronavirus to the government.
Up to date information and advice from the government can be found here
Up to date information and advice from the NHS can be found here
Hardship Funding and Support
The Turn2us charity provides guidance on the help available to individuals who are facing hardship. This includes a guide for the self employed and support for employees who have either lost their job or are in financial difficulties. They were also offering grant funding although this scheme is currently closed. However it is still worth checking their website for updates.
Citizens Advice has some useful guidance on the impact of Coronavirus and the help available. Details of Citizen Advice services in Worcester can be found on the website here.
Emergency Funding for Community Sport
Sport England has launched a Community Emergency Fund to help support community sport and physical activity organisations who are experiencing short term financial hardship or the ceasing of operations due to the ongoing Coronavirus crisis. The £20 million fund aims to deliver immediate funding to those most in need. It’s specifically targeted at organisations who have a role in supporting the nation to be active but who are experiencing short term financial hardship or the ceasing of operations due to the ongoing crisis.
The types of organisations eligible include local sports clubs forced to close at short notice but who are facing ongoing costs around maintenance and utility bills, as well as voluntary and community sector organisations who deliver or enable sport and physical activity. Grants of £300 – £10,000 are available to cover costs such as rent, insurance and utility bills subject to meeting the scheme criteria. Applications can be made online here.