Since the start of the Coronavirus outbreak, the Government has launched a number or initiatives to help businesses recover from the effect of the pandemic. Whilst some businesses have been able to open their doors once more, many more are still awaiting news that they can reopen. To help you navigate your way through the various options available, we’ve listed below the most recent updates, funding and business support available.
Grants for small and medium businesses
On 30 July, the Government announced that small to medium businesses will be able to access grants of between £1,000 and £5,000 to help them access new technology and equipment, along with financial, professional and legal advice to get you back on track. It’s being funded by the government and there’s no obligation for businesses to contribute financially.
The funding has been allocated to local growth hubs, so you’ll need to visit the Local Enterprise Partnership (LEP) website to find your local growth hub and from there, you can apply. There’s usually a section about Coronavirus which includes information about grants. For more information about the new grants visit gov.co.uk
‘Plan for jobs’
In July the Government also announced a number of measures to support jobs across the country in order to support businesses with retaining and hiring employees. As this now moves into its second phase of the Governments recovery plan, it includes a Job Retention Bonus to help keep furloughed workers, a kick-start scheme to create new, fully subsidised jobs for young people, as well as support for new apprenticeship schemes. There’s also £5.8 billion to be spent on ‘shovel-ready’ construction projects to get Britain building. For more details visit the Government website.
Eat Out To Help Out
If you’re a restaurant or café that provides food for immediate consumption with its own seating area, you’ll be able to take part in the Eat Out To Help Out scheme. You’ll need to register quickly though as it’s only available until the end of August 2020. Once registered, you’ll be able to use the promotional materials and the name of your establishment will be added to the list of participants. To find out more, visit here.