COVID-19. What support is available to small businesses?

23rd March 2020

(Based on information posted on gov.uk, updated on 18th March 2020)

The measures announced so far to help small businesses are as follows:

  • 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

All these measures taken together should provide significant relief for most businesses because they will allow businesses to continue to pay wages, overheads and suppliers. The Government’s intention is that banks should take the strain of disrupted cashflows, rather than businesses in the supply chain. Obviously this is just as critical for us as it is for you.

For information on grant funding, contact your Local Authority

For information on loan funding, contact your Bank

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<p>Food Allergy Awareness<br />
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Food Allergy Awareness
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<p>Product Excellence Award<br />
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<p>Great British Entrepreneur Awards<br />
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Great British Entrepreneur Awards
Silver Winner | 2015