Community Wealth Building Business Bulletin

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Issue 7

26 March 2021

Additional Restrictions Grant

Phase 1 

If have missed the deadline for Phase 1 then please check the eligibility criteria and, if you believe you meet them, contact us. We are currently looking into the possibility of re-opening this phase and so look out for an announcement next week.

Phase 2

We're continuing to take applications for Phase 2 from businesses which supply the retail, hospitality, events or leisure sectors which were required to close on following dates:           5 November 2020-2 December 2020; 20 December 2020-4 January 2021 and 5 January- 11 April 2021.

Phase 3

All businesses that have been awarded grants in Phase 1 and 2 will be contacted by us inviting them to apply for Phase 3.

Government COVID-19 support

Recovery Loan Scheme

The Recovery Loan Scheme ensures businesses of any size can continue to access loans and other kinds of finance up to £10 million per business once the existing COVID-19 loan schemes close, providing support as businesses recover and grow following the disruption of the pandemic and the end of the transition period.

• The finance can be used for any legitimate business purpose, including growth and investment.
• The government guarantees 80% of the finance to the lender to ensure they continue to have the confidence to lend to businesses.
• The scheme launches on 6 April and is open until 31 December.

For more information on the scheme, click here.

Self-Employment Income Support Scheme

Find out if you are eligible for Self-Employment Income Support Scheme fourth grant which will cover the period February 2021 to April 2021:

• grant will be set at 80% of three months’ average trading profits, paid out in a single instalment, capped at £7,500
• grant will consider 2019 to 2020 tax returns and will be open to those who became self-employed in tax year 2019 to 2020
• to be eligible for the fourth grant you must be a self-employed individual or a member of a partnership.

For more information on the scheme, click here.

Deferred VAT payments

Find out how to pay VAT payments deferred between 20 March and 30 June 2020. You can pay now or join the VAT deferral new payment scheme.  If you’re on the VAT Annual Accounting Scheme or the VAT Payment on Account Scheme, you can join the scheme.  Further information is available here.

Apply for a Kickstart Scheme grant

If you’re an employer looking to create jobs placements for young people, you can apply for funding as part of the Kickstart Scheme. The Kickstart Scheme has changed and you no longer need a minimum of 30 job placements to apply directly for a grant. You can now apply for a Kickstart Scheme grant by either applying online yourself or getting help from a Kickstart gateway who is already working with the Kickstart Scheme. 

Employers can spread the start date of the job placements up until the end of December 2021. 

If you need help with the Kickstart Scheme process, contact Our Newham Work.

For promotional materials, check the Kickstart Scheme employer guide.

Bounce Back Loan

Bounce Back Loan borrowers will now have the option to tailor payments according to their individual circumstances. Pay as You Grow repayment flexibilities now provide businesses with the following options to:

• extend the length of the loan from six years to 10
• make interest-only payments for six months, with the option to use this up to three times throughout the loan
• pause repayments entirely for up to six months.

The scheme is open to applications until 31 March 2021. Apply for a coronavirus Bounce Back Loan.

Coronavirus Job Retention Scheme

Guidance on what to include when calculating wages has been updated to give more information about non-monetary benefits and employer pension contributions under salary sacrifice.

SME Brexit Support Fund

The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice, if your business has up to 500 employees and no more than £100 million annual turnover. Find out more information on eligibility for the fund and apply online. Applications will close on 30 June 2021 or earlier, if all funding is allocated before this date. 

Payment of Class 2 National Insurance contributions

Guidance has been updated, with added information about payment of Class 2 National insurance contributions, through a Time to Pay arrangement and paying in instalments.

Smarter London SMEs launched

Launched by Business Disability Forum, a leading business and disability membership organisation, Smarter London SMEs offers advice on recognising and meeting the needs of disabled customers and employees.

Approximately one in five people in the UK have a disability and the annual spending power of disabled people and their families is estimated to be £274 billion and rising.

Business Disability Forum has launched the service to recognise the vital role played by London’s small businesses as both service providers and employers. Nearly 99 per cent of all London’s businesses are SMEs, employing just over two million people.

Funded through City Bridge Trust’s Positive Transitions Programme, Smarter London SMEs is a free service available to all London businesses with fewer than 250 employees and an annual turnover of less than £40 million. This includes high street stores, sole traders and start-ups.

The service offers:

• one-to-one support from a dedicated small business disability adviser
• access to a SME confidential advice service and tailored SME resources
• networking opportunities
• disability news updates
• help in achieving ‘Disability Confident Scheme’ certification
• use of the Smarter London SME logo.

Parma Sira is small business disability adviser for Smarter London SMEs. He said: “This is an incredibly challenging time for London’s SME community and many businesses are having to adapt at pace.

“We want to offer free, confidential, support to businesses to help them attract and retain disabled customers and staff, and to recognise the benefits disabled people can bring to their business.

“We are already working with a number of small businesses to offer advice on areas such as inclusive communication, recruitment of disabled talent and the disability confident scheme. We want to grow that network to help share learning.”

To find out more visit Smarter London SMEs. You can also email us to sign up.

Business Disability Forum is a not-for-profit membership organisation with 30 years’ experience of working with business to transform the life chances of disabled people as employees and consumers. Its 300+ members employ 20% of the UK workforce across the private and public sector. It provides practical, evidence-based, strategic solutions for businesses to recruit, retain, and provide inclusive products and services to disabled people.

Newham Chamber of Commerce

Newham Chamber of Commerce is holding the following free meetings over the next four months, providing an opportunity to promote your business to others:

Click here to join the breakfast meeting

Click here to book for the evening meeting

Business Directory

Our Business Directory is an online database that provides you the opportunity to promote your products and services to potential customers and other businesses. It's free to join.

Join today

Apprenticeship updates

Employing an apprentice helps to bring valuable skills into your business. You can employ apprentices at different levels, from school leavers and university graduates, to people of all ages who want to further their careers or change career direction completely. You can hire someone new or upskill an existing employee.

As an employer you can apply for funding from the government to help pay for apprenticeship training – it has increased the incentive payments for hiring a new apprentice.

Employers recruiting a new apprentice of any age will now receive £3,000 per hire if they start between 1 April 2021 to 30 September 2021. Find out more.

Guidance has been updated with information on face-to-face training and when to consider a break in an apprenticeship. 

Business development courses

We've teamed up with Microsoft to provide businesses with free online courses to support and grow your business. For those who believe they would benefit, we encourage you to take advantage of the offer and join the online courses available. Please have a look at the list of courses available below and, if you would like to attend any of the workshops, email us stating which one would like to attend. If you have already emailed us, you don't need to respond again.

• Cyber Security for Business
• Microsoft Teams Training for Business – master working from home with Microsoft Teams
• Grow Your Business with LinkedIn.

Be cyber aware

The National Cyber Security Centre has launched a self-assessment tool to help sole traders and micro businesses check how safe they are from cyber threats, and to give advice on areas of improvement. To use the toolkit and for more information visit CyberAware.gov.uk. 

Webinars

Do you import food and drink products from the EU to Great Britain? If so, the following government webinar might be of interest:

• food & drink on 29 March at 2pm

To register and for more information, and to watch previous webinar recordings, click here. 

Business development

Innovate UK EDGE is holding a series of webinars called 'Six Stages of Innovation' which are designed to help you evaluate, refine and evolve your innovative product or service and future-proof your business to keep up with today's ever changing landscape.  ​​​

Places are limited, so we encourage you to apply quickly.​​​​​​

Path to Asia: Opportunities for Doing Business in India 2021

The size of India's economy, now the world's sixth-largest, makes it an attractive market for UK-based businesses. Join Rohit Kapur, India Managing Director at Dezan Shira & Associates, who will share updates on India's improving business environment and increasing scope of opportunities it offers UK investors.

More details and how to register for the event by clicking here

Government resources

Videos

The government has launched a series of videos about keeping businesses moving; they cover the new rules on exports, imports, tariffs, data and hiring. View here.

Funding competition

Delivered by Innovate UK, this competition will fund infrastructure solutions that support the UK's transition to zero emission vehicles (ZEVs). To lead a project, organisations must be a UK registered business and are encouraged to collaborate with other partners, such as local authorities. For full eligibility, scope and guidance for this funding opportunity please visit gov.uk.

Free rapid lateral flow coronavirus tests for your employees

You can order free rapid lateral flow tests to test your employees twice a week in the workplace. To do this you must register by 11:59pm on 31 March 2021. Please note these flow tests must be used in the workplace, they cannot be taken home. To find out more about setting up workplace testing visit gov.uk.   

Help fight child exploitation

Barnardo's has launched a new toolkit designed to help night time businesses spot signs of child exploitation.

The toolkit will support the free Nightwatch training delivered by Barnardo’s to safeguard children and young people from exploitation by increasing awareness among businesses and services working in the night time economy.

The toolkit explains what child exploitation is, why businesses should care and what people should do if they have concerns that a child is being exploited. It includes a helpful checklist for businesses including hotels, licenced venues and taxi drivers to ensure they are fully equipped and knowledgeable about how to spot the signs of exploitation and how to respond to prevent children from being harmed.

Barnardo’s has launched the toolkit ahead of the lockdown easing and the gradual reopening of London’s night time economy.

Read more

We are here to help, contact us today at:

NewhamBusinessBandE@newham.gov.uk

020 3373 7373

London Borough of Newham

Newham Dockside I 1000 Dockside Road I London E16 2QU