With the Government allowing the relaxation of social restrictions and reopening of many businesses, the time has come for you business owners to count the losses and work out how you can rebuild your business. It is expected that nearly all businesses negatively impacted by the lockdown period will have made a trading loss, but […]
Less well publicised in the range of grants available to businesses and the self employed is the Discretionary Grants Fund. Updated guidance became available over the weekend. The main change is that as well as small and micro businesses, the self employed can also qualify for the grants. Each local authority has been given discretion, […]
Following the UK Government’s announcement about suspending wrongful trading and bringing forward laws to assist companies with restructuring, the new Corporate Insolvency and Governance Bill has been put to Parliament and will soon become law …… but will it help you? There are five main provisions of the new Bill. The first is for those […]
Sunday’s announcement showed a desire from the Government for business owners to either restart or start planning to restart their businesses depending on what sector you are in. But just because that’s their desire doesn’t stop you from needing to ask yourself what is right for you. Every business is different, even within the same […]
Chancellor Rishi Sunak has announced a new business loan scheme for small businesses, named the Bounce Back Loan Scheme, because businesses are needing help during the Covid-19 crisis. Business Loans can be between £2,000 and £50,000 Up to 25% of business turnover 6 year term at 2.5% interest, with the government covering the first year […]
Cash preservation is the key to ensure you have enough to last and will be how your business can survive. As I said previously, the big questions are: When will that support arrive, Will it be enough, When will things get back to normal How much work will be needed just to get back to […]
Advice for the self employed impacted by the Covid-19 related lockdown. The Self Employed Income Support Scheme (SEISS) will give self employed individuals a grant of up to 80% of average monthly profits up to a maximum of £2,500 per month. In simple terms: The initial period of the scheme is for three months The […]
As a business owner, business survival is what matters right now. Like so many others, your big questions probably are: When will the Government support arrive? Will it be enough? When will things get back to normal? How much work will be needed just to get back to where you were before this happened? And […]
Below are links to the official sources of Covid related Financial Support Information for Businesses. Business Support Hub Summary hub for all business support: https://www.gov.uk/coronavirus/business-support Business Eligibility Tool Useful tool to find out what your business might be eligible for: https://www.gov.uk/business-coronavirus-support-finder Job Retention Scheme Claim for furloughed staff here: https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme Coronavirus Business Interruption Loan Scheme […]