• Laura Steele

Update from the Prime Minister at 5pm 17/03

Hi All,

Laura here, fellow small business owner and founder of The Peterborough Small Business Company & Awards.

I will be updating you as and when with important information about the help you can get for your small business, I am no expert in many of the areas I talk about and this is purely from my understanding and in an attempt to support you, if you have any updates to information posted please do let me know so I can make these amendments.

I would like to thank Paul Bristow MP for Peterborough for personally connecting me with direct government information to bring this to you first.

Update from the Prime Minister at 5pm 17/03

Retail, leisure or hospitality sector to pay no business rates at all for 12 months.

The £3000 cash grant promised last week in the budget to those claiming small business rate relief and so will not benefit from the above - will increase to £10,000

  1. Both of these due to start next week, we will update as we have the info.If a business has a policy that covers pandemics, the government will issue support to ensure this is paid out.A cash grant of up to £25,000 to bridge Retail, leisure or hospitality businesses through this period.Business interruption loan scheme up to £5 million with no interest due for 6 months - starting next week.Those in difficulty due to coronavirus will be eligible for a 3 month mortgage payment holiday (please enquire to your lender on what this really means to you T&C’s may apply)The government makes a statement to support people through this time, financially and health related.More updates to come in the next few days including an employment support package for employersOverall reassuring up to a point, still more to be done.Laura Steele Founder The Peterborough Small Business Awards

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