Business support – what help is available

These are some of the Government schemes that are protecting jobs and companies:

The Coronavirus Job Retention Scheme (CJRS): The Government will cover 80% of wages (up to £2500/month) for staff furloughed. Extended until end October.

Self-Employment Income Support Scheme (SEISS): One-off taxable grant available to self-employed for 80% of their average trading profits across 3 months (capped at £7,500). Available until 13 July.

Statutory Sick Pay: Repaying companies for periods of employee sickness related to the virus, starting on or after 13 March.

Bounce Back Loan Scheme (BBLS): Up to £50,000 financial relief available to small businesses interest-free for 12 months.

Fast Start Funding: Funding to support the next generation of businesses, including virtual reality training platforms for surgeons, virtual farmers’ markets and other innovations borne out of the pandemic.  

Source: the i newspaper