Coronavirus Business Advice for Local Businesses - 6 November

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Plymouth business news

6 November 2020


Please find below an overview of the latest advice and guidance for COVID-19. In today's newsletter you will find news and updates including:

  • An update on Business Grants 
  • Extension to the Coronavirus Job Retention Scheme
  • Self-Employment Income Support Scheme grant extension
  • Apply for the Coronavirus Large Business Interruption Loan Scheme
  • Apply for a coronavirus Bounce Back Loan
  • Geddon and Pledge to Shop Local
  • Practical support during Lockdown2
  • Funding streams and competitions
  • Virtual events/webinars

If you have any specific concerns or are in need of support, please contact us.


An update on Business Grants from Plymouth City Council

We received the national guidance this week and have been moving fast to get our grant schemes up and running, ready for businesses to apply for much needed financial support.

There are two grant schemes that will be available for businesses: the Local Restrictions Support Grant (LRSG) scheme which is based on rateable value for businesses that have had to close; and a discretionary scheme, which you may have heard referred to as the Additional Restrictions Grant (ARG) scheme. More details about these schemes can be found here. We have been allocated £4 million for the LRSG and £5 million for the ARG.

Our team has been working all week to set up the application process for the LRSG scheme so that our online application will go live next week. We will issue detailed guidelines, FAQ’s and advice about how our process will operate at the same time.   

Details of the discretionary (ARG) scheme will follow shortly, as we first want to better understand the demand and gaps where additional support will be needed for our Plymouth businesses. We will be consulting closely with business organisations before launching the scheme. We already know that the £5 million that we have been allocated from the Government won’t be enough and we want to make sure that we make best use of the money that is available to us in a way that provides meaningful support.

Tudor Evans, Leader of Plymouth City Council said: “The council did an amazing job back in April in getting over £47 million to businesses who needed it as quickly as possible, working closely with the FSB and the Chamber of Commerce. This brilliant team have been working hard all week to ensure that the money gets to those people who need it as quickly as possible. Whilst it is really good news that those businesses who have been told to close will be supported, I am really concerned that the discretionary grant for those businesses who have not been told to formally close will simply not be enough.”

Please continue to check the Invest Plymouth business grants page for updates and information, and look out for further updates which we’ll issue as soon as more detail is available across our networks.


Extension to the Coronavirus Job Retention Scheme

The government is extending the CJRS to support individuals and businesses who are impacted by disruption caused by coronavirus (COVID-19) this winter. This is an extension of the CJRS and the scheme rules will remain the same except where we say otherwise.

The CJRS (also known as the furlough scheme) will remain open until 31 March 2021. For claim periods running to January 2021, employees will receive 80% of their usual salary for hours not worked, up to a maximum of £2,500 per month. The £2,500 cap is proportional to the hours not worked.

Find out more


Self-Employment Income Support Scheme grant extension

The Self-Employment Income Support Scheme grant extension provides critical support to the self-employed in the form of 2 further grants, each available for 3 month periods covering November 2020 to January 2021 and February 2021 to April 2021.

The extension will last for 6 months, from November 2020 to April 2021. Grants will be paid in 2 lump sum instalments each covering a 3 month period.

The third grant will cover a 3 month period from 1 November 2020 until 31 January 2021. The Government will provide a taxable grant calculated at 80% of 3 months average monthly trading profits, paid out in a single instalment and capped at £7,500 in total. This is an increase from the previously announced amount of 55%.

Find out more


Apply for the Coronavirus Large Business Interruption Loan Scheme

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to larger businesses affected by coronavirus (COVID-19).

The application deadline has been extended to 31 January 2021.

Find out more


Apply for a coronavirus Bounce Back Loan

The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak.

The application deadline has been extended to 31 January 2021.

Find out more


Geddon and Pledge to Shop Local

Throughout lockdown, many Plymouth businesses are adapting to offer alternative ways for you to shop local, with deliveries or click and collect services available. 

We’re asking you to make a pledge to shop for Plymouth and support our businesses. Whether it’s continuing to buy your essential fresh produce from independent butchers, greengrocers and fishmongers or committing to buying Christmas gifts from Plymouth retailers, you’ll be supporting the local economy and helping to protect jobs. 

Visit the Shop 4 Plymouth website for details of local, independent shops selling everything you need. And you can help to make a difference by sharing your pledge to shop local and encouraging friends and family to get involved by using #Shop4Plymouth and tagging @Shop4Plymouth on Facebook, Twitter or Instagram. 

Find out more


Working safely during coronavirus

Find out how to make your workplace COVID-secure, in line with new lockdown restrictions.

The 14 guides found on the GOV.UK website cover a range of different types of work. Many businesses operate more than one type of workplace, such as an office, factory and fleet of vehicles. You may need to use more than one of these guides as you think through what you need to do to keep people safe. Priority actions are outlined at the top of each guide.

Find out more


Practical support during Lockdown2

We know this second national lockdown will present a host of new challenges, but rest assured, you and your business are not alone.

Tourism and hospitality leaders like you will be going through the same challenges, thought processes and making the same tough decisions. And whilst every leader will understandably be giving their business the immediate attention it deserves, the collective power of collaboration and peer support could make the difference for our local economies in preparing for what’s next.

As part of our support to you, we’ve partnered with national non-profit organisation Be the Business to offer three support opportunities during this lockdown:

  1. Up to 48 peer-to-peer support group places exclusively for leaders in Devon and Somerset. Across 6 facilitated sessions, groups of 6 members will meet fortnightly for 90 minutes to tackle challenges faced and use combined expertise to support one another.
  2. If you are in need of some immediate guidance or someone to bounce ideas off, you can book a 30-minute 1-2-1 surgery call with hospitality business strategist Jon Yantin.
  3. And if you want to use the next four weeks to brush up on a range of leadership, marketing and sales tactics, then why not register for one of the five practical 45-minute masterclasses taking place during lockdown.

Funding streams and competitions

Apply for the coronavirus Future Fund

This scheme will issue convertible loans between £125,000 and £5m to innovative companies which are facing financing difficulties due to the coronavirus outbreak. The application deadline has been extended to 31 January 2021.

Find out more here

 

The Marine Management Organisation (MMO) fast-tracks grants to help England’s ports and fishing industry

Applications are invited by MMO for grants to help ports or harbours impacted by Covid-19 pandemic and for health and safety equipment for fishing vessel owners.

Find out more here


Virtual events and webinars

For further information on the latest virtual events, or to upload and promote yours, visit Invest Plymouth's event page here.

You can also submit your own virtual events here.

 

Tourism and hospitality masterclass series

Be the Business | Various dates

Are you a hospitality and tourism leader or manager wanting to take proactive steps to survive the current economic environment? If so, our digital masterclass series is for you. Led by sector experts, they are a chance to learn from industry leaders and hear the stories of businesses just like yours making important changes. Bounce back strongly by opening yourself up to new ways of working.

 

Meet the Digital Marketing expert – Free Business Support Workshop

Oceansgate | 24 & 27 November 

You are invited to join two FREE interactive Digital Marketing Business Support workshops.

The workshops will be delivered by Al Joynes of Domoredesign.com as part of the ‘Meet the Expert’ Business Support Programme and will offer practical advice and tools to help support your business growth plans. The interactive online workshops will be delivered over two sessions and will cover:

  • Workshop 1: An Introduction to Digital Marketing – Tuesday 24 November, 10.30am
  • Workshop 2: My website is live, now what? - Friday 27 November, 10.30am

Find out more here


LinkedIn

Did you know we are on Linkedin? Join us here for more regular updates.


InvestPlymouth

Keep up to date with news and advice on our COVID-19 business support page 


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