Business Update - COVID19

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Business NK - COVID19

Government to protect small businesses with action on late payments

Consultation launched aimed at giving Small Business Commissioner more power to support businesses and resolve late payment issues

  • Government proposals to give more powers to the Small Business Commissioner (SBC) to help small firms with late payment
  • Proposed new powers include ordering businesses to pay in good time and issuing fines if they do not, ordering companies to share information on payment practices and the power to launch investigations
  • £23.4 billion worth of late payments currently owed to small businesses in the UK, impacting on cash flow and threatening the survival of small firms during the COVID-19 pandemic

Further details here.


The Enterprise Adviser Network

Introducing Debbie Boon, who is the Enterprise Coordinator for North and South Kesteven and Rutland, and a member of the Greater Lincolnshire LEP team. Debbie coordinates the Career and Enterprise Company's Enterprise Adviser Network in our area, working with secondary schools and colleges to help them improve their careers programmes to prepare and inspire young people for the fast changing world of work.

Engaging with schools is a wonderful opportunity not only to support your local community and meet your corporate social responsibilities, but also for you to tap into the local workforce of the future, to help shape education so that it reflects the needs of your sector and to promote your business and work sector more widely. 

The Enterprise Adviser Network supports this with two initiatives.  Firstly, by inviting senior managers and leaders from business to buddy up with one secondary school to bring the local world of work perspective into the school and to act as a critical friend to the career leader. This is a really rewarding role, and currently there are around 3000 Enterprise Advisers across the UK, and more are needed to help our young people get the careers guidance they deserve.

Another way you can be involved is through the Give and Hour campaign. This is for anyone in an organisation, at any level and in any role, who would be happy to talk to young people about what they do.  Anything from a short talk, offering a mock interview, helping with a project or virtual tour  – to bridge the gap between education and employment, and to link the subjects they are learning to the world of work.  Signing up to the Give an Hour register does not commit you to anything but simply registers that you are happy to be contacted.  You can register at giveanhour.co.uk

If you would like to have an informal chat about the different opportunities for your businesses to engage with schools and colleges, you can contact Debbie  directly at Debbie.boon@lincolnshire.gov.uk


Jobcentre Plus (DWP) support to employers and employees

Jobcentre Plus (DWP) is providing support and advice to employers and employees in redundancy situations through its Rapid Response Service. Support includes:

  • Helping people facing redundancy to write CVs and find jobs
  • Providing general information about benefits
  • Helping people to find the right training and learn new skills
  • Helping with costs like travel to work expenses

DWP delivers some support and training directly, and works with other local organisations such as National Careers Advice and ESF training schemes, to signpost in the most appropriate way.

Advice is available to all employers regardless of how many staff are at risk of redundancy. Employers should email this dedicated address to find out what redundancy support is available at.


Straws, cotton buds and drink stirrers ban: rules for businesses in England

A restriction on the supply of plastic straws, stirrers and cotton-buds came into force on 1 October 2020. Businesses must not supply or sell single-use plastic:

  • Straws and cotton buds to end-users in England (you can continue to supply single-use plastic straws and cotton buds to other businesses)
  • Drink stirrers to end-users and businesses in England

The ban applies to all businesses that supply these products, including manufacturers and retailers. If you do not stop selling or supplying these items, you could be fined. For more information see here.


New guidance on £9 billion Job Retention Bonus, set to benefit millions of businesses

Further information has been published on how businesses can claim the government’s Job Retention Bonus, with millions set to benefit from the £9 billion package.

  • The Job Retention Bonus, worth up to £9 billion is set to support millions of employers who have kept on furloughed workers
  • The bonus will work alongside newly announced Job Support Scheme and could be worth more than 60% of average wages of workers who have been furloughed – and are kept on until the start of February 2021
  • Businesses can claim for the Bonus from 15 February until the end of March

Further details here.

Free Support for North Kesteven Businesses

NKDC offers the service of a Business Support Adviser, Phil Means. Phil can assist businesses and provide bespoke advice and support.

If you are in business and feel you could benefit from free business advice please contact him. Either call Phil on 07920 472671 or email phil_means@n-kesteven.gov.uk


Self-Employment Income Support Scheme grant extension

The grant extension is for self-employed individuals who are currently eligible for the Self-Employment Income Support Scheme and are actively continuing to trade but are facing reduced demand due to coronavirus.

Find out more on who can claim and what the grant extension covers here. HMRC will provide full details on how to claim in due course.


National mentoring initiative to support young people into work

Jobseekers across the UK can benefit from mentoring support designed to help them into work.

For more information on the mentoring please contact Jackie Martin an Employment Adviser at Sleaford Jobcentre Plus.


Deferral of VAT payments due to coronavirus

Businesses who deferred VAT due from 20 March to 30 June 2020 will now have the option to pay in smaller payments over a longer period. Instead of paying the full amount by the end of March 2021, businesses can make smaller payments up to the end of March 2022, interest free.

They will need to opt-in to the scheme, and for those who do, this means that VAT liabilities due between 20 March and 30 June 2020 do not need to be paid in full until the end of March 2022. Those that can pay their deferred VAT can still do so by 31 March 2021. More information on the scheme will be available on GOV.UK in the coming months.


Webinars for the week ahead

12/10/2020 9:00-16:30 1:1 support sessions to prepare for trading post EU transition

14/10/2020 9:30-10:30 Social Decoded - Steps To Get Started

14/10/2020 14:00-15:00  Supply Chain Resilience in Light of COVID-19/BREXIT

15/10/2020 09:30-10:35 Set up your online shop

15/10/2020 10:45-12:00 Find New Customers with Google Maps