Information and advice for Businesses and Charities
Latest government advice for employers and businesses
Latest advice from the Federation of Small Businesses
Latest advice from Charity Finance Group (CFG)
Latest advice from NCVO: National Council of Voluntary Organisations
Latest advice from ACAS: Advisory, Conciliation and Arbitration Service
Latest government support initiatives for businesses
Government Support for Employers and Businesses
The Chancellor recently announced an extension to his package of temporary and targeted measures to support public services, people and businesses through periods of disruption caused by COVID-19.
What is it?
- The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.
- The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.
- The scheme is open to applications until 31 January 2021.
- If you already have a Bounce Back Loan but borrowed less than you were entitled to, you can top up your existing loan to your maximum amount. You must request the top-up by 31 January 2021.
Who is eligible?
You can apply for a loan if your business:
- is based in the UK
- was established before 1 March 2020
- has been adversely impacted by the coronavirus
- From 15 July to 12 January 2021 the reduced (5%) rate of VAT will apply to supplies of accommodation and admission to attractions across the UK, including museums.
- £1,000 one-off payment to employers for every furloughed employee who remains continuously employed through to the end of January 2021.
- Fund to create high quality 6-month work placements aimed at those aged 16-24 who are on Universal Credit and are deemed to be at risk of long-term unemployment.
- Funding will cover 100% of the relevant National Minimum Wage for 25 hours a week, plus employer NI contributions and employer minimum automatic enrolment contributions.
- £1 billion Public Sector Decarbonisation Scheme that will offer grants to public sector bodies (including schools and hospitals) to fund both energy efficiency and low carbon heat upgrades