BUSINESS SUPPORT DURING CORONAVIRUS
Find below some useful links and information about support for you and your business during the covid-19 pandemic and beyond. We advise checking the Gov.Uk website for the mist up to date information as well as other support networks assisting with the business support and recovery during this time.
FIND CORONAVIRUS FINANCIAL SUPPORT FOR YOUR BUSINESS
Coronavirus (COVID‑19) support is available to employers and the self-employed, including sole traders and limited company directors. You may be eligible for loans, tax relief and cash grants, whether your business is open or closed.
Use this business support finder to see what support is available for you and your business.
SELF EMPLOYED INCOME SUPPORT SCHEME (SEISS)
If you're self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19) find out if you can use this scheme to claim a grant.
JOB RETENTION SCHEME
Claim for some of your employee’s wages if you have put them on furlough or flexible furlough because of coronavirus (COVID-19).
THE LOCAL RESTRICTIONS SUPPORT GRANT
The Local Restrictions Support Grant (LRSG ) supports businesses that have been severely impacted due to temporary local restrictions.
ADDITIONAL RESTRICTIONS GRANT
The Additional Restrictions Grant (ARG) supports businesses that are not covered by other grant schemes or where additional funding is needed.
This could include:
businesses which supply the retail, hospitality, and leisure sectors
businesses in the events sector
business required to close but which do not pay business rates
BOUNCE BACK LOAN SCHEME (BBLS)
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak.
The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.
The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.
The scheme is open to applications until 31 March 2021.
APPLY FOR A KICKSTART JOB SCHEME GRANT: 29 OR LESS JOB PLACEMENTS
If you are an employer looking to create 29 or less jobs placements for young people, apply for funding as part of the Kickstart Scheme.
The Kickstart Scheme provides funding to create new job placements for 16 to 24 year olds on Universal Credit who are at risk of long term unemployment. Employers of all sizes can apply for funding which covers:
associated employer National Insurance contributions
employer minimum automatic enrolment contributions
You’ll get £1,500 funding per job placement. This is for setup costs and to support the young person develop their employability skills. If you get someone else to do some of this for you, such as your Kickstart gateway, you’ll have to agree how you will share this money.
Employers can spread the start date of the job placements up until the end of December 2021.
START UP LOAN FOR YOUR BUSINESS
Apply for a government-backed Start Up Loan of £500 to £25,000 to start or grow your business.
Unlike a business loan, this is an unsecured personal loan.
If Successful, You’ll get free support and guidance to help write your business plan, and successful applicants get up to 12 months of free mentoring.
BUSINESS RESOURCES AND TOOLS
Access these free tools and resources from The Small Business Co.