Support for Businesses Affected by Covid 19
The Coronavirus outbreak is a rapidly changing situation and the District Councils will be monitoring the advice and updates coming from Government regarding support for businesses. The Chancellor has set out a package of temporary and targeted measures to support businesses through this period of disruption.
The government’s coronavirus Business Support
Working safely during coronavirus
Reopening checklist for food businesses during COVID-19
Click the following links for more local information:
Derbyshire Dales District Council
Staffordshire Moorlands District Council
East Midlands Chamber of Commerce
Loans
For large firms, a new lending facility with the Bank of England will provide low cost, easily accessible loans. Further information on this will be available from the Bank of England website soon
For SMEs, the government is providing access for eligible businesses, to loans via the Coronavirus Business Interruption Loan Scheme; details here.
Grants & Business Rates
The Government statement suggests that:
For ALL retail, hospitality and leisure businesses in England, there will be a 12 month business rate holiday; i.e. no business rates will be payable for the year 2020-2021.
Businesses in the retail, hospitality and leisure sectors with a rateable value of between £15,000 and £51,000, will also receive a cash grant of up to £25,000, in addition to the business rate holiday.
ALL businesses in receipt of small business rate relief or rural rate relief, regardless of sector, will be eligible for a cash payment of £10,000.
The full statement of the recent measures implemented by Government can be found here.
Templates from the East Midlands Chamber of Commerce
Coronavirus Job Retention Scheme – FAQ v6b
International Trade
Department for International Trade’s new webinars to boost support for SMEs during coronavirus
Free 1-1 consultation with one of our International Trade Advisers