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 the following articles:
- Discretionary Grant
- Westfield East Bank Creative Futures Fund Small Grant Scheme
- The Best Small Shops Competition 2020
- Coronavirus Job Retention Scheme (CJRS)
- Stag and Lantern, Highams Park
The Discretionary Grant scheme will permanently close to new applications at 5pm on Friday 28 August 2020.
If you have applied for a Discretionary Grant before but been declined, please check the criteria on the website as there have been new categories of grants added with improved guidance on how to apply.
Grant categories:
- Businesses without commercial property costs;
- Ofsted registered private and voluntary nurseries;
- Larger hospitality and leisure sector businesses
- Suppliers to the retail, hospitality and leisure sectors;
- Businesses using shared workspaces;
- Council licensed, permanent and casual market traders;
- Charities and Community Interest Companies;
- Community cafes based in borough parks; and
- Bed and breakfasts paying council tax.
Grants from £1,080 up to £25,000 are available and unlike a loan, grants do not need to be repaid, but there are just a few days left to apply.
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Foundation for Future London, through funding from Westfield Stratford City, has created the Westfield East Bank Creative Futures Fund to support local organisations and individuals to accelerate new project ideas, support start-up enterprises and increase education, training and skills development opportunities for the local community.
The Small Grant Scheme is looking for project proposals from individuals, groups and organisations that will provide opportunities in employment and learning through arts, culture, innovation and creative placemaking; entrepreneurship and resilience and to provide Covid-19 response and support resilience.
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Independent retailers from all retail sectors across the UK are invited to enter the Best Small Shops competition 2020.
The most successful applications selected over 10 weeks of consumer voting will go forward to an industry panel and formal review.
Shortlisted retailers will receive an invite to attend a reception in the House of Commons Terrace Pavilion in November when a winner will be awarded the title of Best Small Shop 2020.
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From Tuesday 1 September 2020 CJRS will pay 70 per cent of usual wages up to a cap of £2,187.50 per month for the hours furloughed employees do not work.
You will still need to pay your furloughed employees at least 80% of their usual wages for the hours they do not work, up to a cap of £2,500 per month.
You will need to fund the difference between this and the CJRS grant yourself. You will continue to have to pay furloughed employees’ National Insurance (NI) and pension contributions from your own funds.
Further guidance and live webinars offering you more support on changes to the scheme and how they impact you are available to book online.
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Local business owner, Robert Woodland and father John celebrate the opening of their new pub.
We caught up with the pair to hear their journey.
They said: “Whilst it wasn’t the grand opening originally planned, quite a few months later than anticipated and at a reduced capacity, it’s an incredible feeling to say that we’re finally open and Highams Park has a micropub.
“To see the support from the local community this far has been unbelievable and exceeded any of our expectations.
“All I can do is say thank you to every one of you and note how much we’re looking forward to the future when we can become what we always hoped we would be.”
Photographs by @renatacastrophotography
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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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