The Growth Hub team are working hard to keep you updated on Covid-19 Support for Business and inform you of 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.

The government has removed remaining domestic restrictions in England. There are still steps you can take to reduce the risk of catching and spreading COVID-19. See here for the Government’s Covid-19 guidance pages.

Guidance for employers and businesses

You can refer to Government guidance here 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:

The guidance in the link below is an infection prevention resource for workplaces and businesses. It has been put together to help workplaces implement fundamental infection prevention practices and behaviours that can help workers keep safe and well when at work.

HM Gov Covid-19 Schemes

There are a range of measures and schemes available to support businesses to mitigate and recover from the impacts of Covid-19.

COVID-19 Business Financial Support Finder Tool
The Government has launched an online tool to help employers and the self-employed find 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 Recovery Loan Scheme provides financial support to small and medium-sized businesses across the UK as they recover and grow following the coronavirus pandemic.

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 government guarantees 70% of the finance to the lender. As the borrower, you are always 100% liable for the debt.

Loans are available through a network of accredited lenders, listed on the British Business Bank’s website. 

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.

For eligible retail, hospitality and leisure properties in England you may not need to pay any business rate for the first 3-months of the 2021-2022 tax year. This may be followed by 66% business rates relief for the period from 1 July 2021 to 31 March 2022. Total values are capped. Contact your local Council if you think you may be eligible.

You may be eligible for a 12.5% reduced rate of VAT until 31 March 2022 if your business is in the hospitality, hotel or holiday accommodation sector. 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

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 that can be accessed here ICAEW

Devon & Plymouth Chamber has a range of resources including guidance, events 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 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 (Enterprise South West) – provides 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 Standards pages for Devon, Plymouth, Somerset and Torbay here.

Your Local Authority has the latest 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 Borough Council – Find you local authority here.

Are You Looking for Other Business Support Options?

Our Growth Hub team are on hand to help you navigate the business support options, find answers to your questions and put you in touch with the right schemes to meet your business needs and aspirations. Do Get in Touch and a Growth Hub Adviser from our team will get back to you.

Get in touch with an Adviser today

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