Coronavirus (COVID-19) - support for business
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.
This includes a package of measures to support businesses including:
- a Coronavirus Job Retention Scheme
- deferring VAT and Income Tax payments
- a Statutory Sick Pay relief package for small and medium sized businesses (SMEs)
- a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
- small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
- grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
- the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
- a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
- the HMRC Time To Pay Scheme
Enterprise M3 LEP
Locally Enterprise M3 LEP is gearing up to provide as much support as it can for businesses affected by the COVID-19 pandemic.
For more information on the work Enterprise M3 LEP are doing to respond to the impact of COVID-19 on the economy and businesses in our area, go here.
Most importantly, the government has asked M3 LEP to report the needs and concerns of businesses in our area directly to them. Current issues raised and communicated by us to government departments can be found here.
Enterprise M3 LEP have a number of local hotels, logistics firms and an airline catering company wanting to help supply meals to care homes and isolated people most vulnerable to the disease.
If you would like Enterprise M3 LEP to tell government how you are being impacted or raise opportunities which can help during this emergency please email firstname.lastname@example.org