Funding support announced for small businesses and those in retail, hospitality and leisure
Two funding support schemes for small businesses and those in the retail, hospitality and leisure sectors during the coronavirus crisis have been launched by the Government.
Both the Small Business Grants Fund and the Retail, Hospitality and Leisure Business Grants Fund will be administered by councils that collect businesses rates.
The Small Business Grants Fund will provide grants of up to £10,000 per eligible business. These include those with a rateable value of £15,000 or less which could benefit from the Small Business Rate Relief Scheme or the Rural Rate Relief Scheme.
The Retail, Hospitality and Leisure Business Grants Fund is available for those eligible for discounts under the Expanded Retail Discount Scheme. Funding will be provided for each property, so some businesses will receive more than one grant. Grants of up to £10,000 will be available for properties with a rateable value of £15,000 or less, and up to £25,000 for properties with a rateable value of more than £15,000 but less than £51,000.
Find out more detail about the scheme here.
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Covid-19: Latest Government business advice
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.
This includes a package of measures to support businesses including:
- a Coronavirus Job Retention Scheme
- deferring VAT and Income Tax payments
- a Statutory Sick Pay relief package for small and medium sized businesses (SMEs)
- a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
- 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 and £51,000
- the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
- 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 through loans
- the HMRC Time To Pay Scheme
Covid-19 scams alert for businesses
Businesses are being warned about Covid-19 related scams - particularly online.
The county council's trading standards team is urging people not to open malicious attachments which will put them at risk of identity theft with personal information, passwords, contacts and bank details compromised.
It is also warning about fake online resources – such as false coronavirus maps – that deliver malware such as AZORult Trojan, an information stealing program which can infiltrate a variety of sensitive data.
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