There has been a huge plethora of information with regards to what resources and funding is available for businesses affected by Covid-19. We have tried to consolidate all the information into one post to try and help as many businesses as possible
Bounce bank loans
Loans from 2k to 50k interest with an interest rate of 2.5%. For the most part the loan will be through the business bank account that your business uses day to day. There are so of the banks allowing for new customers. Be aware there are some delays and it is really important that you read the terms and conditions they are bank specific. It is worth discussing the terms and conditions with your Accountant prior to accepting the loan
Similar to the Bounce bank however largely for larger businesses. A lot of smaller businesses where unsuccessful with this scheme so we would suggest Bounce back unless you are looking for more than 50k
Business rates relief and support grants
Help for businesses that have premises and those in specific industries it is a bit of a postcode lottery see help by region links for more information.
You can Furlough staff now up until the end of October. At the end of July there is likely to be a phasing out of furloughing where the government will reduce the amount of support available to businesses. Link for the furlough process below
Self employed support
For those self employed that where self employed in time to submit a 2018/2019 return you may be eligible for the self employment grant that would allow you to claim 80% of your average earnings for a period of three months capped at £7500.00. There are restrictions such as you would need to have had 50% or more of your earnings from self employment. The link to check you are eligible is as below.
Scotland has a self employed grant that is for new self employed this is for up to £2000.00 and this is available directly from your city council. There are also grants available in Wales for this category however they depend on you being VAT registered so won't suit everyone.
For those of you waiting for the SSP portal to go live it does so on the 26th of May. Guidance has been updated with details of whom can claim and what information you need to collect. Word to the wise though it does only cover a two week period at present.
For anyone who is in the charity or social sector looking for funding Charity Bank have a great post on funding for COVID-19. It has quite a comprehensive list of funding for both whole of the UK as well as regional.
Help by Region - Government support
There are some differences by country in the UK here are the government business support finders to make it easier to access regional government support
Wales - https://gov.wales/coronavirus
England - no specific finder but on HMRC marked as England only
Specifically for creatives
Creative Scotland have collated a list of all the creative support and resources for Creatives across the UK
Non HMRC/Government Funding - Most business types
We are aware of the fact there are some companies that are outwit any HMRC and Government funding here are some of the best resources we have found as yet.
Enterprise Nation 5K fund
Enterprise nation has partnered with Salesforce to give Covid-19 grants to small business owners. The applications for a 5k grant open regionally with Northern Ireland applications opening today and applications from other regions being taken between now and the end of July. There are other specific programme terms however we think this is a great opportunity for small Limited company owners to get some support where the government may have missed them https://www.enterprisenation.com/smallbusinessgrants/…
Has a great blog with information about different industry funds and funding news in general
A great resource for funding in general and with regional specific resources some grant links on there that I haven't been able to find elsewhere.
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