Business Support - COVID-19 (Coronavirus)
See our information on Business Rates Relief and business support grants and the new Discretionary grant scheme.
In his statements since March 2020 the Chancellor announced the following support for businesses for 2020-21:
An initial £330 billion of guaranteed loans for businesses:
- To support larger firms - a lending facility with the Governor of the Bank of England to provide low cost, easily accessible loans of up to £200 million..
- To support Small and Medium sized businesses with an annual turnover of up to £45 million the Business Interruption Loan Scheme offers loans, overdrafts, invoice finance and asset finance up to £5 million for up to 6 years with attractive interest free terms for the first 12 months to help businesses pay their rent, salaries, suppliers or purchase stock.
Both of these schemes are now available and being managed by the British Business Bank and over 40 accredited lenders.
- Bounce Back Loan Scheme aimed at small businesses, offers loans of between £2,000 to £50,000 (up to 25% of business turnover) interest free for the first 12 months. Applications through a short, standardised online application form.
- Statutory Sick Pay Rebate Scheme will allow businesses with fewer than 250 employees to apply to HMRC to recover the costs of paying Coronavirus related sick pay, paid on or after 13th March 2020 to their current or former employees. The new online service launches on Tuesday 26th May 2020.
- VAT payments for the next quarter (up to the end of June) will be deferred, and businesses will have until the end of the financial year to repay those bills.
- The Job Retention Scheme offers a grant to cover 80% of the salary of retained workers who are not working, but are furloughed and kept on payroll, rather than being laid off. It is available for 3 months (from 1st March) and any employers - small, large, charitable or non-profit organisations are eligible for the scheme.
- The Self-employment Income Support Scheme offers grants of 80% of the profits (up to a cap of £2,500 per month) for self employed individuals or partnerships with profits of less than £50,000, whose income has been negatively impacted by COVID-19 and where the majority of their income comes from self employment.
- The next self assessment payment will be deferred until January 2021 and self employed people can now access, in full, Universal Credit at a rate equivalent to Statutory Sick Pay for employees.
- HMRC Tax helpline can also offer practical help and advice to support businesses and self employed people who are concerned about not being able to pay their tax due to the coronavirus. Telephone 0800 0159 559.
Government information and emergency support
The Government have an online tool to help you find support for your business. You answer a series of questions and it will tell you of the support available to your business or to you if you are self employed.
Resources for business reopening
The Cheshire and Warrington Growth Hub has information and guidance for businesses in the wider Cheshire area.
We have listed sources of support for the arts, culture and heritage sector, and the tourism and hospitality sector.
Cheshire East business helping business
We want to help businesses across the borough to support each other during the COVID-19 outbreak.
Our business helping business scheme seeks to match businesses that are in need of help, to those that are in a position to help across a number of areas.
Leave us your details if you would like to offer support or need to access help.
Job Matching Service
Our Supported Employment team want to job match people who are coming out of work as a result of COVID-19 with local employers who are looking to recruit temporarily.
if you are a local employer who is looking to recruit we can source potential employees to meet current recruitment demand. Email your requirements to firstname.lastname@example.org