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 keep their businesses going. Here we aim to bring a summary of all the existing resources, as well as announced resources.
COVID-19 financial support for businesses
The Government has set out a package of targeted measures to support businesses through this period of disruption caused by COVID-19. We are working with partners to support local businesses and to ensure that we come through the Coronavirus pandemic, we have a dedicated business support team to help.
There are many schemes available to provide support, if you are unsure what COVID-19 support you are eligible for you can use the business support finder on the GOV.UK website.
To go directly to the page, click here
Job Retention Scheme
The Coronavirus Job Retention Scheme has been extended until 30 September 2021
If you cannot maintain your workforce because your operations have been affected by coronavirus (COVID-19), you can furlough employees and apply for a grant to cover a portion of their usual monthly wage costs where you record them as being on furlough. Find out if your business is eligible and how much you can claim to cover wages for employees on temporary leave or furlough due to COVID-19 using the link below.
Claim for furlough days in:
July 2021 claim must be submitted by 16 August 2021
August 2021 claim must be submitted by 14 September 2021
September 2021 claim must be submitted by 14 October 2021
Self-Employment Income Support Scheme
A fifth grant covering May 2021 to September 2021 will be open to claims from late July 2021.
The grant is taxable and will be paid out in a single instalment. Click link below to check guidance on if you qualify for the fifth grant.
This scheme provides grants for those experiencing reduced demand due to COVID-19 but are continuing to trade, or temporarily cannot trade. To be eligible for the fourth grant you must be a self-employed individual or a member of a partnership. You cannot claim the grant if you trade through a limited company or a trust.
You must have traded in both tax years:
- 2019 to 2020 and submitted your tax return on or before 2 March 2021
- 2020 to 2021
The eligibility conditions for the fifth grant are the same as the fourth grant, except for the need to consider how your trade has been affected in the period 1 May 2021 to 30 September 2021. You do not need to have claimed the fourth grant to be eligible for the fifth grant. However, unlike previous grants there are two levels of grant available and some claimants will need to consider the new Financial Impact Declaration test, which compares turnover (sales) between two business periods.
The Recovery Loan Scheme is to help businesses of any size access loans and other kinds of finance so they can recover after the pandemic and transition period. Up to £10 million is available per business. The actual amount offered and the terms are at the discretion of participating lenders. The government guarantees 80% of the finance to the lender. As the borrower, you are always 100% liable for the debt.
The scheme is open until 31 December 2021, subject to review.
Find out more about RLS
Support for exporters
Help is available from UK Export Finance (UKEF) for businesses facing disruption due to coronavirus (COVID-19) through an existing range of tried and tested products.
Statutory sick pay
You can get £96.35 per week Statutory Sick Pay (SSP) if you’re too ill to work. It’s paid by your employer for up to 28 weeks.
If you cannot work because of coronavirus (COVID-19)
You could get SSP if you’re self-isolating because:
- you or someone you live with has coronavirus symptoms or has tested positive for coronavirus
- you’ve been notified by the NHS or public health authorities that you’ve been in contact with someone with coronavirus
- someone in your support bubble (or your ‘extended household’ if you live in Scotland or Wales) has coronavirus symptoms or has tested positive for coronavirus
- you’ve been advised by a doctor or healthcare professional to self-isolate before going into hospital for surgery
You cannot get SSP if you’re self-isolating after entering or returning to the UK and do not need to self-isolate for any other reason.
You can find out more using the link below.
Business rates relief
You can check if your retail, hospitality or leisure business or your nursery is eligible for business rates relief due to COVID-19 by using the links below.
If you need further advice or support you can contact a business advisor by –
- telephoning 01482 300 301
- emailing [email protected]
Hull City Council has been working to offer support and advice to our city businesses to ensure that they can reopen confidently and in the safest manner possible, as part of this we have created a business toolbox with helpful information and posters that can be displayed in local businesses.
Preparation is vital for a smooth transition from lockdown across the UK. Hull City Council has been working to offer support and advice to our city businesses to ensure that they can reopen confidently and in the safest possible manner.
We have therefore produced a Business Toolkit to assist businesses in line with the latest government guidelines. These assets can be downloaded and displayed within your business to advice customers of their responsibilities in adhering to this guidance, as well as giving your customers confidence that you are complying with the governments advice.