COVID-19 Business Funding and Grants
If your business is struggling to meet financial needs throughout the Coronavirus Pandemic you could be eligible for grants and temporary funding measures from the Government to support your customers, staff and suppliers through the COVID-19 economic downturn.
What’s Available to Your Business?
– Statutory Sick Pay relief package for SMEs
– 12-month business rates holiday for all retail, hospitality and leisure businesses
– 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 – £51,000
– Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs
– A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows
– Deferred VAT payments through the HMRC Time To Pay Scheme
We urge you to consider all options available at this difficult time.
For more detailed information and to check your eligibility CLICK HERE
Contacting Your Insurance Company
Businesses that have cover for both pandemics and government-ordered closure should be covered, as the government and insurance industry confirmed on 17 March 2020 that advice to avoid pubs, theatres etc is enough to make a claim.
Insurance policies differ significantly, so businesses are encouraged to check the terms and conditions of their specific policy and contact their providers. Most businesses are unlikely to be covered, as standard business interruption insurance policies are dependent on damage to property and will exclude pandemics.
*information is accurate as of the date of publish and information could change as new government announcements occur