Covid-19: Update for businesses
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Welcome to this week’s business newsletter on the support and guidance available during the Covid-19 pandemic.
This issue features articles on:
- Results of our Business Survey
- The latest on the Government’s ‘Top-Up’ grants scheme
- Free support from Save The High Street
- Businesses listing for free through the Council's business directory
- Get your business deliveries by zero emissions
- Business helpline
- Support from London Growth Hub
Businesses in Waltham Forest recently filled in a Council survey and we are now in the process of analysing the results. Early indications are that Covid-19 has had an immediate and significant impact on businesses in Waltham Forest:
- 48% of respondents reported experiencing an effect on their mental health and wellbeing.
- 50% have been unable to pay suppliers and bills.
- 48% have furloughed staff.
- 6% have made redundancies.
- 64% said the financial impact is delayed but expected in the medium to long-term.
Ways in which businesses have innovated to mitigate the financial implications of Covid-19:
- Trading using social media to take orders and delivery by cargo bike.
- Introducing new productivity software to enable more effective remote working.
- Working two days instead of six, to save fuel and use of vehicles.
- Creating a platform for customers to view merchandise while social distancing.
- Sourcing alternative suppliers.
We will detail further results from the survey and report on the ways in which the Council is using this data in future newsletters.
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Government ‘Top-up Grants’ are to support businesses that have experienced a significant drop in trade and for those with property related costs or which are ineligible for other support.
While the Government announced there would be discretion for local authorities to determine which businesses should benefit, it was also stipulated that we should prioritise businesses in shared spaces (e.g. co-working spaces, incubators, artists’ studios and maker-spaces), regular market traders, small charity properties and bed and breakfasts paying council tax, rather than business rates.
The Government has published initial guidance for this scheme and we are working to define how it will be delivered in the borough, in a way which is as fair and transparent as possible. The Council is taking the necessary steps to be able to consider applications as early in June as possible.
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Save the High Street, the national campaign to help businesses adapt during Covid-19, has developed a recovery and resilience health-check for local businesses.
With input from dozens of successful independents and industry experts, the campaign has seen hundreds of business strategies for dealing with Covid-19 on the high street evaluated. The survey takes 11 minutes on average to complete and every business that completes it will receive the following personalised support for free:
- A health-check report and scores, highlighting vulnerabilities and opportunities across the business.
- Six top recommendations, each with engaging content, step-by-step guides and more.
- A telephone call with an expert consultant to discuss the report and recommendations (optional and for the first 1,000 responses).
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Businesses across Waltham Forest are adding their names to The Waltham Forest Connected Business Directory, with 290 now on the platform.
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 details of how you are still trading during the pandemic. All you need to do is add your details and provide a small amount of information about your products and services.
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ZED is Waltham Forest’s local zero emission delivery service, and is here to help you during this challenging time.
If you are re-thinking your business model and how to get your products to your customers, or looking to become more sustainable in the future, contact ZED to get it delivering for you.
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The Business Support Helpline number in England has changed to FREEPHONE 0800 998 1098. The helpline provides free, impartial business support and signposting services to businesses in England – which currently includes business advice on Covid-19.
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Book a free appointment with a business or construction adviser from The London Growth Hub to support you through Covid-19. Its advisers are helping SMEs start, sustain and evolve. They can provide expertise across a broad range of business needs and can help you:
- Understand and access financial help, including the extensive financial assistance being made available by the government.
- Start continuity planning to deal with the potential impacts of Covid-19.
- Address and manage challenging sales, supplier, staffing and retention issues.
The London Growth Hub has launched the ‘Covid-19 Business Help Series’. These are informative and free webinars designed to guide London’s small businesses across various problem areas, as they navigate the challenges of Covid-19.
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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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