Covid-19 Support for Business
The Growth Hub team are working hard to keep you updated on the latest on Government schemes and other business support to assist with managing through the impacts of the Coronavirus.
Here follows links to schemes, advice, guidance and further support for you and your business.
Guidance on general steps you can take to reduce the risk of catching and spreading COVID-19 can be found here on the Government’s Covid-19 guidance pages.
Guidance for employers and businesses
You can refer to Government guidance for reducing the spread of respiratory infections, including COVID-19 in the workplace.
There is advice on the Health and Safety Executive’s COVID web pages to assist with risk assessments, including the latest guidance on ventilation.
Ready for Anything
There are a range of measures and schemes available to support businesses to mitigate and recover from the impacts of Covid-19 such as business rate relief and loans.
Coronavirus Business Financial Support Finder Tool
The Government has launched an online tool to help employers and the self-employed find Covid-19 related financial and employment support. Use the Business Financial Support Finder tool to find relevant support.
Summary information and quick links to business support options are below
The new iteration of the Recovery Loan Scheme (RLS) is designed to support access to finance for UK businesses as they look to invest and grow.
The maximum amount of finance available is £2 million per business, with the actual amount offered and the terms are at the discretion of participating lenders. The scheme provides the lender with a 70% government-backed guarantee against the outstanding balance of the facility after it has completed its normal recovery process. The borrower always remains 100% liable for the debt.
Businesses can use the finance for any legitimate business purpose – including managing cashflow, investment and growth. However, businesses must be able to afford to take out additional debt finance for these purposes.
Loans are available through a network of accredited lenders, listed on the British Business Bank’s website.Â
Businesses can explore finance options and access a range of finance schemes through the government-owned British Business Bank. The British Business Bank’s Finance Hub provides useful information to help with understanding the various finance options that may be available to your business. It also provides guidance on preparing your business for investment.
If you’re a VAT registered business, check if you can temporarily reduce the rate of VAT on supplies relating to hospitality, accommodation, or admission to certain attractions.
Find out if your business is eligible for VAT reduction.
All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through the HMRC’s Time to Pay service. Further details here Time to Pay Service
Aside from Coronavirus response related measures, there is business support, guidance and information on the Government’s general support pages for business and the self-employed here https://www.gov.uk/browse/business
And be alert to the risk that in these challenging times there may be people wishing to take advantage. Please do not provide bank details over the telephone. For more information and guidance, see Trading Standards Covid-19 Scams Guidance
Other National and Local Support for Business
This section highlights support and guidance offered by various organisations to support you and your business through the Coronavirus disruption
Business Representative Organisations and Trade Associations provide advice, guidance and webinars that you may find helpful. The following link takes you to a nationwide list of organisations providing support. It does not cover all business representative organisations but you may find it a helpful starting point. See Other Support & Guidance for Business.
CBI  has practical advice and guidance for businesses. See the CBI website
ICAEW has information resources can be accessed here ICAEW
Devon & Plymouth Chamber has a range of resources including guidance and webinars. See Devon & Plymouth Chamber Business Support
Somerset Chamber of Commerce offers information and support for businesses, including events and webinars. See Somerset Chamber Business Support
The Federation of Small Businesses (FSB) has information and guidance for small businesses and the self-employed including events, webinars and virtual networking sessions See the FSB website
Libraries provide access to online resources such a Cobra factsheets and often host business or start-up related workshops. You can access these services and other business support related resources for free through library membership. See your local library, Devon Libraries, Somerset Libraries, Plymouth Libraries, Torbay Libraries.
TDA Business – provide access to a team of Advisers who can offer support throughout Torbay and in other areas across the South West. See TDA’s Enterprise South West website
Trading Standards – Offer practical guides, advice and business support information. See the Trading Standard pages here
Your Local Authority has the latest Coronavirus updates and advice for your area, plus information on business related support. See Coronavirus pages at Devon, Somerset, Plymouth and Torbay. For further local information, see the Coronavirus pages for your local District or Council – Find you local authority here.
