Coronavirus Business Interruption Loan Scheme extended
The Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, has been extended. Small and medium-sized businesses can apply for loans of up to £5m with no interest due for six months. The scheme will be up and ready by next week. Further information will be published on gov.uk soon.
Coronavirus – key measures to support business
The Chancellor last night set out an enhanced £330m package of support for businesses through a period of disruption caused by Covid-19.
As well as extending the Business Interruption Scheme (as above), new measures to support business affected by the virus in the retail, leisure and hospitality industries include:
- a cash grant of up to £25,000 per business
- the business rates holiday is extended to all hospitality businesses. The government has announced that the business rates holiday is to be extended to all businesses in the retail, leisure and hospitality sector for the next 12 months.
Other measures include cover:
- People Statutory Sick Pay
- Universal Credit Minimum Income Floor
- ‘New Style’/Contributory Employment and Support Allowance Businesses
- Statutory Sick Pay Rebate for Small-Medium Enterprises (<250 employees)
- Business Rates Relief and Pub Support
- Small Business Grant Funding Coronavirus Business Interruption Loan Scheme
- Time to Pay HMRCs dedicated Coronavirus Helpline
Online resources for businesses and employers
For the latest information and advice, employers and business owners should visit
guidance for employees, employers and businesses. Check the page regularly for updates and subscribe to receive email alerts. Information includes:
- Guidance on advice to provide to staff including: how to help prevent spread of COVID-19; what to do if someone suspected or confirmed to have COVID-19 has been in a workplace setting; advice to give to individuals who have travelled to specific areas; and advice for the certification of absence from work resulting from COVID19
- Information on the support available to businesses impacted by COVID-19
- ACAS has published information for employees and employers, including information on simple steps to help protect the health and safety of staff, sick pay and absence from work
Employers urged to share views on Staffordshire’s Future Skills Strategy
Research is currently being undertaken to determine skills gaps within the region’s business community. Please take a few moments and complete the survey before Friday 20th March.
How a LCBEP grant helped us
Louise Davies from Bowson Engineering Ltd explains how a grant from the Staffordshire Business Enterprise Network (SBEN) Low Carbon Business Evolution Programme changed their heating system and saved them thousands on their heating bills.
Anyone interested in applying for a Local Carbon Business Evolution Programme grant to reduce their carbon footprint and increase energy efficiency can:
Grants of between £2,000 and £20,000 (up to 60% of net costs) are available.