During these unprecedented times it is important for small and medium enterprises to know that they are not alone, and there is support out there to help them businesses going. Here you will find a summary of all the existing resources, as well as announced resources.
Please note: this page is continuously updated as more support is always getting announced. Last updated: 9 July 2020
Mini-Budget 2020 latest
Jobs Retention Bonus Employers to receive £1,000 bonus for every furloughed employee returning to work if still employed on 31/1/2021. The £2bn scheme will cover 100 per cent of the employee’s national minimum wage for 25 hours a week as well as national insurance contributions. Payments will be made from February 2021 and further details about the scheme will be published by the end of July.
Kickstart scheme A £2bn Kickstart scheme will subsidise six-month work placements for people on Universal Credit aged between 16 and 24, who are at risk of long-term unemployment. As part of the Summer Statement, chancellor Rishi Sunak said over 700,000 people are leaving education this year and many more are just starting out in their careers. Working over 25 hours per week for 6 months (up to £6500 each). £2000 to take on new apprentices (£1500 if 25 or over).
Housing market Homebuyers will be temporarily exempt from paying the tax for the first £500,000 of any property price, saving them an average of £4,500 and up to £15,000. The increase in the threshold from £125,000 to £500,000 is effective immediately and will run until the end of March 2021.
Green Home Improvements Homeowners can benefit from £2bn of grants to pay for “green” upgrades to make their houses more energy efficient. Vouchers worth up to £5,000 will be issued while poorer households could get up to £10,000 to make the upgrades, such as loft and wall insulation. It will provide at least £2 for every £1 homeowners spend on making their properties more energy efficient and the Treasury expects the measure to support more than 100,000 green jobs.
Help for hospitality VAT on food, non-alcoholic drinks, accommodation and attractions has been cut from 20pc to 5pc, a £4bn boost for the industry. Every Briton will be given an “eat out to help out” discount. Meals eaten at any participating business Monday to Wednesday in the month of August will be 50pc off at up to £10 per head.
List showing a series of useful links to potential funding.
Industrial Strategy Challenge Fund
|ISCF Digital Security by Design: Technology Enabled Business Led Demonstrators Competition||
13 05 2020
|HM Government||Small Business Research Initiative||
|Innovate UK Smart Grants||
27 05 2020
|EfT||Energy for Tomorrow (EfT)||
29 05 2020
Joint Trade Associations (JTA) Group
|Waste Electrical and Electronic Equipment (WEEE) Fund – Support Grants and Loans Package||
|Innovate UK||GCRF Demonstrate Impact in Developing Countries: Round 2, Phase 1 Competition||10/06/2020|
|DIH Hero||Digital Innovation Hubs||https://dih-hero.eu/||15 /06 2020|
|Innovate UK||EUREKA Collaborative R&D: Advanced Materials Competition||30/06/2020|
Grants4Apps (G4A) Global Accelerator- to support and develop digital health start-ups.
|EJP-RD||EJP RD – Rare Diseases Research (RDR) Challenges Call||30/06/2020|
Bio-Based Industries Joint Undertaking (BBI JU) Call 2020
|National Institute for Health Research||Invention for Innovation (i4i) programme 3 strands of funding:
|Scarborough Council||Business Expansion Grant – Scarborough||
Domestic Seafood Supply Scheme (DSSS)
11 May 2020 (12:00 BST)
Coronavirus Bounce Back Loan (CBBL)
04 05 2020
|Defra and HM Treasury||
Relief Cash Grants for England’s Fishing Businesses
|Two Ridings Community Fund||Community First Whitby and Scarborough||Ongoing|
|The National Lottery||National Lottery Community Fund Prioritises COVID-19 Projects||Ongoing|
|National Institute for Health Research||NIHR Response to COVID-19: Urgent Public Health Research||Application Form||Ongoing|
Coronavirus Enterprise Relief Fund
|HM Government||COVID-19 Small Business Grant Fund and Retail, Hospitality & Leisure Grant Fund (England)||Ongoing|
|HM Government||COVID-19 Corporate Financing Facility (CCFF)||https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility||Ongoing|
|HM Government||Coronavirus Self-employment Income Support Scheme (SEISS)||https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme||Ongoing|
Coronavirus Job Retention Scheme (CJRS)
|British Business Bank||Coronavirus Business Interruption Loan Scheme (CBILS)||https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils-2/||Ongoing|
|Funder||Funding title||Link to website||Closing date (if known)|
|Business-led innovation in response to global disruption||https://apply-for-innovation-funding.service.gov.uk/competition/583/overview#summary||**CLOSED**|
|Resource Action Fund||
Film & TV Charity
|Covid-19 Emergency Relief Fund||
|Culture of Solidarity||
Online form for Hull businesses to apply for grant funding is now live
On 17 March 2020 the Chancellor announced from 01 April 2020 a new £10,000 grant available to businesses that qualify for Small Business Rates Relief or the expanded Retail Discount with a rateable value below £15,000.
There is also a grant available of £25,000 for businesses in receipt of the expanded Retail Discount with a rateable value between £15,000 and below £51,000.
For the avoidance of any doubt businesses can only qualify for one of these grants.
The online form which businesses can complete to provide specific information required to claim the grant is now live
Click on the link below to apply for this funding
You will need to have the following information to hand when completing the form (see table below)
Business Rates Cash Grants
All businesses registered for SBRR (Small Business Rates Relief) with a value of under £15,000 are entitled to a £10,000 cash grant. The only requirement is that you were a recipient of SBRR as of 11 March 2020. This is an automatic grant and businesses do not need to apply, your local authority will write to you. The Rates Office will be writing to all eligible businesses giving information on how to claim. Once this is received, you will just have to complete a simple online form and the payment will be made to you by BACS. For more information about Business Rates Cash Grants in Hull click here
Businesses in the retail, hospitality and leisure industries based in commercial premises with a rateable value between £15,001 and £51,000 are eligible for a cash grant of up to £25,000.
Coronavirus Bounce Back Loan
The Bounce Back Loan scheme helps small and medium-sized businesses to borrow between £2,000 and £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.
Loan terms will be up to 6 years. No repayments will be due during the first 12 months. The government will work with lenders to agree a low rate of interest for the remaining period of the loan.
The scheme will be delivered through a network of accredited lenders.
You can apply for a loan if your business:
- is based in the UK
- has been negatively affected by coronavirus
Who cannot apply
The following businesses are not eligible to apply:
- banks, insurers and reinsurers (but not insurance brokers)
- public-sector bodies
- state-funded primary and secondary schools
If you’re already claiming funding
You cannot apply if you’re already claiming under the Coronavirus Business Interruption Loan Scheme (CBILS).
For more information, and to access this service, click here
Coronavirus Job Retention Scheme Grant
Delivered by HMRC, this government backed scheme will provide a grant to all employers to cover 80% of each employee’s wages, up to a total of £2,500 per month, per employee. The grant will be backdated to 1 March 2020 and will be open for at least three months. There is no limit of the funding available for this scheme.
In order to receive this grant, employers will need to:
- Designate affected employees as ‘furloughed workers’ and notify your employees of this change. Changing the status of employees remains subject to existing employment lay and may be subject to negotiation, subject to employment contract.
- Submit information to HMRC about the employees that have been furloughed and their earnings through a new online portal.
Wednesday 16 April update – The Government has confirmed that thousands more employees across the country will now qualify for this grant. The eligibility date has now been extended to 19 March 2020.
Friday 17 April update – The Government’s Furlough scheme will be extended a further month. Following the announcement of continuing social distancing measures, the Chancellor said the Coronavirus Job Retention Scheme (CJRS) would now be open until the end of June in order to provide businesses with the certainty they need.
Monday 20 April update – This scheme is now live. To access the service, click here
Tuesday 12 May Update – In a speech to the House of Commons today, Chancellor Rishi Sunak has announced that the Coronavirus Job Retention Scheme will be extended, for four months, until the end of October.
Chancellor Sunak said the government backed workers and companies going into the lockdown, and would support them coming out.
Until the end of July, there will be no changes to the scheme whatsoever.
From August to October the scheme will continue, for all sectors and regions of the UK, but with greater flexibility to support the transition back to work. Employers currently using the scheme will be able to bring furloughed employees back part-time.
Employers will be asked to start sharing, with the government, the costs of paying people’s salaries.
Further information will follow by the end of May.
Coronavirus Business Interruption Loan Scheme (CBILS) for SMEs
The Coronavirus Business Interruption Loan Scheme supports small and medium sized businesses (with less than £45 million turnover) with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to six years. Thanks to a Business Interruption Payment set up by The Governments, the first 12 months of the credit facility will be interest free. The scheme will be delivered through commercial lenders, backed by the Government-owned British Business Bank.
To find out out to apply, and to see a full list of more than 40 accredited lenders, click here
Humber Business Growth Hub Grants
Set up by the Humber Business Growth Hub, these grants aim to cover parts of the costs of keeping your business going throughout Covid-19.
ICT for Growth Grant – This grant covers 40% of the cost of essential hardware and software required to enable the homeworking of staff, of proposals totalling between £2,500 and £24,999.
Business Growth Grant – This grant covers 40% of the cost of working with a specialist/advisor/consultant to help mitigate the business operations impact on your business, of projects totalling between £2,500 and £12,500.
Finance for Growth Grant – This grant covers 40% of the cost of working with a specialist/advisor/consultant to help mitigate the financial impact of the Covid-19 pandemic on your business, of projects totalling between £2,500 and £24,999
For any of these grants, an application form, last set of company accounts, a bank statement, and one written quote for the required goods/services are needed. Grants will be offered withing three working days of receipt of application. To learn more about these grants, email [email protected]
Statutory Sick Pay (SSP) Refund.
This government backed refund will cover up to two weeks’ SSP per eligible employee who has been off work because of Covid-19. Eligible for businesses the classed as an SME (250 staff and under) as 28 February 2020, employers will be able to reclaim expenditure for any employee who has claimed SSP as a result of Covid-19
Employers should maintain records of staff absences and payments of SSP, but employees do not need to provide a GP’s note. If evidence is required by the employer, those with symptoms of Covid-19 can get an ‘isolation note’ from NHS 111 online.
Sky Launches £1m TV Ad Scheme to Boost SMEs During COVID-19 Crisis
Sky Media is helping small businesses, suffering because of the coronavirus outbreak, with TV advertising campaigns with £10,000.
SME100 is an advertising support scheme for small businesses, created by Sky Media. The £1 million fund will provide 100 businesses with television advertising campaigns via AdSmart to support them during the difficult times brought about by coronavirus (COVID-19).
Sky Media wants to reward businesses that are demonstrating true resolve and ingenuity, in particular those firms that need support during this time and would benefit from accessing the power of TV advertising at a moment when TV consumption has increased significantly.
SME100 is open to companies with fewer than 50 employees that have been running for at least one year in the UK. Businesses can nominate themselves or be put forward by their own customers.
Though the programme, Sky Media will gift a campaign value of £10,000 per business, comprised of TV advertising that uses geo-demographic targeting across 100+ AdSmart enabled channels. The maximum length of the TV advert is 30 seconds and the campaign duration will be one month.
David Sanderson, Director of AdSmart Local & Development at Sky Media, said:
‘We want to help our nation’s SMEs where possible by giving access to highly relevant audiences via AdSmart totally for free. SMEs are the lifeblood of our economy, making up 99.9% of all business in the UK.
‘We know that although there are economic slowdowns, people are still spending money and we want to help brands connect to these audiences. This initiative is about giving businesses confidence in advertising and their ability to succeed no matter the situation.’
For more information on the scheme, and to apply for it, you can visit the AdSmart From Sky website here
Benefits for the self-employed
Self-employed people are unlikely to be eligible for the Statutory Sick Pay, however the government is making it easier for the self-employed to make a claim for Universal Credit or the Contributory Employment and Support Allowance:
- For the Duration of the Covid-19 outbreak, the requirements of the Universal Credit minimum income floor will be temporarily removed for the self-employed to access Universal Credit at a rate equivalent to the SSP
- Universal Credit standard allowance will increase by £1,000 for the next 12 months
- People will be able to claim Universal Credit and access advance payments upfront without the current requirement to attend a Jobcentre if they are advised to self-isolate
Income Tax Deferment – For the self-employed, Income Tax payments due by 31 July 2020 under the Self-Assessment system will be deferred to January 2021. No penalties or interest for late payment will be charged in the deferral period. This is an automatic offer and self-employed people do not need to apply.
THURSDAY 26 MARCH UPDATE: Following Chancellor Rishi Sunak’s announcement on Thurday 26 March, there are now more measures in place to help self-employed people.
Self-employment Income Support Scheme – Self employed people will be able to apply for a grant worth 80% of their average monthly profits of the last three years, up to £2,500 a month. If you have only accounts of one year they will honour that too and go by what you earned. If it is two years then it will be split 50/50. If you have three years of accounts then it’ll be divided by three.
This scheme has not been launched yet. HMRC will contact you if you are eligible and will invite you to apply online. Individuals do not need to contact HMRC now and doing so will only delay the urgent work being undertaken to introduce the scheme.
For more information you can visit the Gov website by clicking here
Businesses that have cover for both pandemics and government-ordered closure should be covered, as the government and insurance industry confirmed on 17 March 2020 that advice to avoid pubs, theatres etc. is sufficient to make a claim.
As insurance policies differ significantly, businesses are encouraged to check the terms and conditions of their specific policy and contact their providers. Most businesses are unlikely to be covered, as standard business interruption insurance policies are dependent on damage to property and will exclude pandemics
The Association of British insurers held a Q&A session regarding coronavirus which can be found here.
Commercial Banking Finance and Other Measures
Most UK banks are offering various new finance packages and altered terms, conditions, and fees. Examples of measures currently announcd are:
- Arrangement fee-free loan finance available
- Loan repayment holidays
- Interest rate reductions
- Short-term support through reduced or deferred payments for mortgages
- Longer-term support through extending the remaining term of mortgages, switching rates
- Option of a temporary increase in credit card and overdraft limits
Businesses should speak to their bank in the first instance to discuss any financial requirement that they might have.
Coronavirus Community Fund
Available exclusively in the Hull and East Riding by Two Ridings Community Foundation, these grants of up to £2,000 are to help deal with emerging issues in the community as a result of continuing threat of coronavirus. Funds will support:
- Community organisations that are preparing themselves to appropriately respond and continue their work in a difficult work environment, and to tailor their specialist services to give help to the people who need it the most
- The development of advice and support initiatives to fill gaps for people and places where there are no current suitable services
- Groups that provide vital community support to maintain some level of viability through these uncertain times where they are experiencing a significant loss of income as a result of the current crisis.
To receive this grant, the enterprise must be a voluntary organisation, community group, small charity or other not for profit organisation with at least 3 unrelated management committee members.
For more information about eligibility and how to apply, click here
Facebook Small Business Grants
Facebook is offering $100 million (approximately £83 million) in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where they operate.
This program can help:
- Keep your workforce going strong
- Help with your rent costs
- Connect with more customers
- Cover operational costs
Applications will start being taken in the coming weeks and you can sign up to receive more information when it becomes available here
100% Business Rates Holiday
Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020-21 tax year. Businesses that received the retail discount in the 2019-20 tax year will be rebilled by their local authority as soon as possible.
Eligible for businesses based in England AND in the retail, hospitality and/or leisure sector, properties that will benefit from the relief will be those that are wholly or mainly used:
- as shops, restaurants, cafes, drinking establishments, cinemas and live music venues
- for assembly and leisure
- as hotels, guest, and boarding premises and self-catering accommodation
If your business is eligible, there is no action that you need to take. Your local authority will apply the business rates holiday to your bills. You can estimate the business rate charge you will no longer have to pay this year by using the business rates calculator.
VAT Bill Deferment
All VAT-registered businesses can defer their VAT payments for the period of 20 March 2020 to 30 June 2020.
VAT bills accumulated during the stated deferral period will not be due for payment until the end of the financial year on 31 March 2021.
This is automatic and business do not need to apply
HMRC Time to Pay Service
Businesses in financial distress/with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay service.
These arrangements are arranged by HMRC on a case-by-case basis.
HMRC have recently scaled-up the Time to Pay service to all firms and individuals who are in temporary financial distress as a result of Covid-19 and that have outstanding tax bills.
If you’ve missed, or are worried about missing, your next tax payment due to coronavirus contact HMRC on their dedicated helpline 0800 0159 559