COVID-19 - support for businesses
The coronavirus outbreak is a rapidly changing situation and D2N2 Growth Hub is monitoring advice from the government with regard to impacts on businesses.
Published on 16 March 2020
Read the general guidance for businesses on how to deal with the virus.
Financial support to businesses
The government announced the following support for businesses in the Budget 2020 to support SMEs as a result of impacts experienced through the coronavirus. Although many of the details about how to claim are yet to be finalised, it involved package of measures to support businesses including:
- a statutory sick pay relief package for SMEs
- a Business Rate Relief for small businesses and pubs
- small business grant funding of £3,000 for all business in receipt of Small Business Rates Relief (SBRR) and Rural Rates Relief
- the Coronavirus Business Interruption Loan Scheme to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance
- the HMRC Time To Pay Scheme
Support for individuals and businesses claiming statutory sick pay relief (some details still to be provided).
Coronavirus business interruption loan scheme.
Further updates will be provided as they emerge.