Welcome to this week’s business newsletter on the support and guidance available during the Covid-19 pandemic. We have now processed 2,591 grants for businesses in Waltham Forest, totaling £35,735,000, but we are aware some cases are still outstanding. Please be assured the team is working hard to process these and if you believe you are eligible and haven’t yet received your grant, you can expect to hear from us shortly.
You can check your eligibility and submit your business details for a Government grant by following the link below.
This issue features articles on:
- HSE guidelines for safe working
- Converting a CBIL loan to a BBL loan
- The Waltham Forest Business Directory
- Discretionary top-up funds
- The Statutory Sick Pay Rebate Scheme
- Business responses to Covid-19
- Support for local fashion businesses
Further to recent government advice for businesses returning from lockdown and looking to ensure safe operations for staff, visitors and customers, the Health and Safety Executive has produced two guides for the workplace.
- The Working Safely guide covers risk assessment, talking to workers, managing travelling to and from the work place, work and common areas, hygiene and PPE.
- The Talking With Your Workers guide advises how best to consult with and support your workforce in order to successfully implement safe working.
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Business with a Coronavirus Business Interruption Loan (CBIL) may be better off converting their loan to a Bounce Back Loan (BBL). These were launched on 4 May and offer loans between £2,000 and up to 25% of turnover, to a maximum of £50,000.
Accredited lenders will allow customers to transfer CBILs that meet the criteria, into a BBL, removing any repayments due in the first year and incurring a lower interest rate.
Consumer protections under these schemes differ, and businesses should discuss their options with their lender. There is a window of six months for any transfer requests.
The ability to convert loans was confirmed in reply to a parliamentary question.
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The Waltham Forest Connected Business Directory is now being widely promoted as part of the #shoplocalwf campaign.
Social media advertisements are being run to help reach more customers, helping them find everything they need locally at the click of a button.
The Council will also feature the directory in the July edition of Waltham Forest News, which is sent to 110,000 addresses across the borough.
We encourage all local businesses to submit their business directory listing to get the message out that they are still trading.
All you need to do is add your details and provide a small amount of information about the products and services you offer.
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On 2 May, the Government announced a 5% top-up to the funding for small business grants, given to councils in April. These ‘Top-up Grants’ are to support businesses that have experienced a significant drop in trade, with property related costs and who are ineligible for other support.
The Government’s announcement indicated there would be discretion for local authorities to determine which businesses should benefit, but also stipulated businesses in shared spaces (e.g. co-working spaces, incubators, artists’ studios and maker-spaces), should be prioritised.
The Government published initial guidance for this scheme on 14 May. We are working to define how the scheme will be delivered in the borough, in as fair and transparent a way as possible, given the modest size of the fund and scale of need within Waltham Forest. Full details of the Top-up Grant scheme will be published as we have further news.
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The SSP Rebate Scheme enables employers with fewer than 250 employees to claim coronavirus-related Statutory Sick Pay. Employers are eligible to use the scheme if:
- they’re claiming for an employee who’s eligible for sick pay due to coronavirus.
- they had a PAYE payroll scheme before 28 February 2020.
- they had fewer than 250 employees across all PAYE schemes on 28 February 2020.
The repayment covers up to two weeks of SSP, and is payable if a current or former employee was unable to work on or after 13 March 2020 and entitled to SSP, because of Coronavirus.
For more information about eligibility and how employers can prepare for the launch on 26 May, visit the Government website.
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We recently caught up with Abby from East of Eden yoga studios, who explained how she has pivoted her business model to offer online yoga and Pilates classes during the Covid-19 pandemic.
This has enabled her to continue running her Walthamstow studios and ensured her teachers remain on the payroll.
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Exale Brewing is situated in Walthamstow's Blackhorse Lane. The brewery produces balanced, complex beers and has be known to source ingredients from foraging in nearby Epping Forest. Their business model sees them collaborating with local coffee roasters.
The taproom, which usually hosts a variety of DJs, live music and food popups has adapted during the Covid-19 crisis into an onsite takeaway every Friday and Saturday from 11am to 5pm.
Exale is also taking orders online.
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Walthamstow-based Look Up is an online gallery specialising in colourful, affordable prints by emerging artists.
Since launching in 2016, it has been a regular feature of E17 life, with exhibitions at the Walthamstow Village Window Gallery, Buhler + Co in Chingford Road (including E17 Art Trail shows in 2017 and 2019), and a six-month pop-up at Central Parade on Hoe Street.
Until 30 June 2020, Look Up is donating a percentage of every sale to housing and homelessness charity Shelter.
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As part of the London ‘Fashion District’ initiative, which enhances and promotes local design and manufacturing, Waltham Forest has commissioned a bespoke support programme for fashion and textile businesses based in the borough.
Fashion businesses will receive one-to-one advice, and be able to attend virtual workshops and networking events, alongside industry panels and Q&As.
The programme, delivered by Creative United, launches in September 2020, and follows the opening of Leyton Green studios last year, a council-owned workspace housing start-up designers and creative businesses.
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We will continue to update you as new information is available. We know that this is a fast-moving situation, but we are confident staff will continue to provide support and guidance to local businesses in Waltham Forest.
You can sign up to our email newsletter with up-to-date information about Covid-19 below.
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