Coronavirus: Guide to Government support

The Government has put a series of schemes and packages together to help businesses through the coronavirus crisis. Here Mike Cherry, national chair of the Federation of Small Businesses, talks through some of the options.

“The Retail and Hospitality Grant Scheme provides businesses in the retail, hospitality and leisure sectors with a cash grant of up to £25,000 per property.

- For businesses in these sectors with a rateable value of under £15,000, they will receive a grant of £10,000.

- For businesses in these sectors with a rateable value of between £15,001 and £51,000, they will receive a grant of £25,000.

Businesses based in England, in the retail, hospitality and/or leisure sector are eligible. This includes properties being used primarily as shops, restaurants, cafes, drinking establishments, cinemas, live music venues, for assembly and leisure and as hotels, guest and boarding premises and self-catering accommodation

You do not need to take any action, if you are eligible for the grant you will be contacted by your local authority. If you are unsure who your local authority is, you can check via the Governments Find your local council tool.

Additional Small Business Grant Scheme funding for local authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBBR), rural rate relief (RRR) and tapered relief has been made available. This will provide a one-off grant of £10,000 to eligible businesses to help meet their ongoing business costs. The Department for Business, Energy & Industrial Strategy (BEIS) have now released their guidance for local councils which sets out in full which businesses are eligible and the funding breakdown, you can read this in full at the gov.uk website.

In respect of employees who have attended the workplace and who test positive for coronavirus, the employer will be contacted by the relevant local Health Protection Team to identify those who have been in contact with the employee and to discuss any special measures for the employer to take.”

Extra resources for businesses:
Business rates holiday
Businesses in retail, leisure and hospitality have been granted a business rates holiday and will not have to pay business rates for the 2020-2021 tax year. No action is needed - the discount will be applied by the local council.

Coronavirus Business Interruption Loan Scheme
Helps small and medium businesses affected by Covid-19 to access loans, overdrafts, invoice finance and asset finance of up to £5million for up to six years. Businesses with an annual turnover of up to £45million are eligible.

Coronavirus Job Retention Scheme
Support for businesses that are unable to maintain the current workforce. Employees can be furloughed and as an employer can apply for a grant to cover 80% wages, up to £2,500 a month.