PACKAGE OF SUPPORT LINKS TO HELP BUSINESSES
- Businesses that were not eligible for Government funding through previous COVID related financial support schemes are being invited to apply for business support funding through the discretionary grant fund, from lunchtime today, Monday 1 June until the closing date on 14 June. www.dorsetcouncil.gov.uk/discretionary-grants
- The Business Support Helpline number in England has changed to FREEPHONE 0800 998 1098. The helpline provides free, impartial business support and signposting services to businesses in England – which currently includes business advice on Covid-19.
- HM Treasury has published further information about the ‘Coronavirus Statutory Sick Pay Rebate Scheme’, which is now open for applications. Small businesses and employers across the UK who have paid Statutory Sick Pay to staff taking coronavirus-related leave will be able to claim back the money from today. Businesses with fewer than 250 employees can find out how to make a claim. https://www.gov.uk/government/news/coronavirus-sick-pay-scheme-opens-for-applications Please also find the latest Tweet from HMRC re. the same – https://twitter.com/HMRCgovuk/status/1265191140229361665
- Self-Employment Income Support Scheme (SEISS)
To summarise, self-employed individuals or members of partnerships whose business has been adversely affected by coronavirus will be able to apply for a SEISS grant worth 80% of their average monthly trading profits.
The payments will be paid in a single instalment covering three months and capped at £7,500 – expected to land in bank accounts within six working days of each claim.
These relevant contacts, newsletters, webpages or on social media areto help spread the word and get money in people’s pockets.
- Guidance to help employers, employees and the self-employed understand how to work safely during the coronavirus pandemic
- Gov.uk Furlough Scheme extended; Coronavirus Job Retention Scheme will continue until end of October –
furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500
– new flexibility will be introduced from August to get employees back to work and boost economy
- The UK Government’s COVID-19 recovery strategy – pdf link here
- New – Staying safe outside your home Government guidance – https://www.gov.uk/government/publications/staying-safe-outside-your-home/staying-safe-outside-your-home
- New – Social distancing – https://www.gov.uk/government/publications/staying-alert-and-safe-social-distancing/staying-alert-and-safe-social-distancing
- Self-employed invited to get ready to make their claims for coronavirus (COVID-19) support — read more
- Grant funding still available. No payback. These are grants of either £10,000 or £25,000 that do not need to be paid back. DO NOT MISS OUT! — read more
- Government has announced a new Bounce Back Loan scheme – a 100% backed loan for small and medium sized businesses. If you are thinking of applying for a Bounce Back Loan for your business and you aren’t sure about doing it now because you still have funds and you don’t know how long you will be closed for due to Covid 19. The cut off point is “4th November”. Businesses will be able to borrow between £2,000 and £50,000 and access the cash within days. Loans will be interest free for the first 12 months — read more
- Business Support Grants update:64% of the 7,241 business support grant claims has been paid, totalling almost £57 million. If you have registered to claim your grant but are yet to receive it, Dorset Council say “Please be assured we’re working as hard as we can to process all claims and we’ve drafted in officers from other parts of the council to help speed up the process”. Check eligibility and claim your grant here
- Chancellor expands loan scheme for large businesses. The Coronavirus Large Business Interruption Loan Scheme has been expanded to cover all viable firms. All firms with a turnover of more than £45 million will now be able to apply for up to £25 million of finance, and up to £50 million for firms with a turnover of more than £250 million. British Business Bank website
- Coronavirus Future Fund: The Future Fund (launching in May) will provide Government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match-funding from private investors.
These convertible loans may be a suitable option for businesses that rely on equity investment and which are unable to access the Coronavirus Business Interruption Loan Scheme. Visit GOV website
- UK businesses driving innovation and development will be helped through the coronavirus outbreak with a £1.25 billion government support package, the Chancellor announced. https://www.gov.uk/government/news/billion-pound-support-package-for-innovative-firms-hit-by-coronavirus
- Find out how to calculate 80% of your employee’s wages, National Insurance Contributions and pension contributions if you’ve furloughed staff due to coronavirus (COVID-19). https://www.gov.uk/guidance/work-out-80-of-your-employees-wages-to-claim-through-the-coronavirus-job-retention-scheme
- The government have launched a new tool to help businesses find coronavirus financial support. The support finder will show which loans, tax relief and cash grants a business can access: https://www.gov.uk/business-coronavirus-support-finder
- Claim for your employees’ wages through the Coronavirus Job Retention Scheme (CJRS): a step by step guide for employers: https://bit.ly/3amTKdV
Key Links from Dorset Council
Business Support Grants update
We’ve paid 64% of the 7,241 business support grant claims, totalling almost £57 million. If you have registered to claim your grant but are yet to receive it, please be assured we’re working as hard as we can to process all claims and we’ve drafted in officers from other parts of the council to help speed up the process. Check eligibility and claim your grant here
Leisure Development Fund:
Funding is now available for cultural, sporting and community organisations to help finance one off or capital projects that benefit people living or working in Dorset. https://www.dorsetcouncil.gov.uk/your-community/support-for-voluntary-and-community-organisations/funding/leisure-development-fund.aspx
The Government has announced a series of measures to significantly increase the economic support available to businesses and workers during coronavirus.
These measures include unlimited loans and guarantees to support firms and help them manage staff wages and cashflow through this period.
For more information about the Government coronavirus measures available and eligibility, please visit the website.
Join Government Money Advice Service Facebook group, Coronavirus and your Money for money news and updates as soon as available, as well as a place to ask money questions, share worries and help others out.
Resources for your business:
Our Coronavirus hub – a regularly updated information portal for all government updates, FAQs and other relevant information.
A series of interactive webinars – aimed directly at Chambers and businesses across the UK and overseas.
We know there are huge concerns regarding the potential impact of Coronavirus and we’re doing all we can to support the business community through these challenging times.
If you have an enquiry about Coronavirus or would like to apply for the Government grant(s), please complete the Dorset Gateway Business Support Form and return to firstname.lastname@example.org to help us respond to you as quickly as possible.
Alternatively, please call the team on 01202 714800. We are receiving high volumes of enquiries and we will respond to you as quickly as possible.
To request support visit https://www.dorsetchamber.co.uk/business-support/coronavirus-covid-19/ in the first instance.
As the country gradually emerges from #CoronavirusUK lockdown, thoughts will turn to getting businesses up and running again. 💼
There will be many things to consider, but we are on hand to support you. Whether it’s planning the end of furlough, reviewing your business succession plan or assessing and adapting your procedures and practices, we’ll provide you will some useful guidance and tips on a range of topics. 👍🏻
Join us on Monday 1 June from 14:00 for a free webinar on helping you to achieve business success after lockdown.
Click the link to book – https://bit.ly/3c0Bt6V 💻
Sometimes we all need a bit of extra support. If your business needs advice on the JRS, VAT deferrals, grants, CBLIS, or managing cash flow during the pandemic we’re offering free 30 minute calls with qualified accountants. Book a call now bit.ly/FREEAG19
This link is to the latest post with guidance for the self employed, webinars and various links.
Managing Partner, Richard Bugler is running a weekly live webinar update for businesses on Mondays and Tuesdays, basically a summary of the key issues in the past week – with Q&A Recordings of all past webinars are now on their website, with details of future ones.
SAGE offers advice for all businesses.
In response to the ever-changing situation surrounding Covid-19, leading cloud business management solutions provider, Sage has set out to ensure that the small and medium-sized businesses can find and receive all the support and advice they need in these difficult times, with the creation of a Coronavirus advice-hub, here – https://www.sage.com/en-gb/coronavirus/
A bit more about the hub…
A trusted partner to over a million UK businesses, the hub provides straightforward, practical advice, with experts are on hand to offer guidance on everything from financial help and government support, to tips on keeping a business running when working from home.
Key resources on the hub include:
- A Coronavirus Business Support tool
- A constantly updated, in-depth guide, showcasing each level of support available to businesses
- A daily webinar, a 30 mins walk through providing advice to get through the current climate