Monthly Archives: October 2020

Originally written by Timothy Adler on Small Business
Any small business that needs protection from creditors while it continues to trade through Covid-19 will find it easier now the CVA process has been simplified.
Insolvency body R3 has published a standard form extending the help bigger companies get when they go into administration but continue to trade.
Although high-street names such as New Look and Travelodge have entered company voluntary arrangements (CVAs) until now they have been too complicated and costly for small businesses on life support.
>See also: Why the Government’s new insolvency bill is bad news for sole traders
What is a CVA?
A CVA is a form of insolvency used by businesses to cut debts, restructure their capital or dispose of assets such as property leases.
At least 75 per cent of unsecured creditors must agree to such a proposal for it to go ahead.
The R3 standard form details what businesses need to do to reach an agreement with their creditors, settle their debts and turnaround their business.
The form includes a breathing space period to allow a business time to restructure without fear of action from its creditors, to be followed by a payment period where a company’s debts are paid in line with

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150 UK small business grants to apply for right now

by Anna Jordan • October 12, 2020 • 0 Comments

Originally written by Anna Jordan on Small Business
UPDATED: Some of these funds may have been put on hold due to COVID-19 (we’ve marked the ones that are paused) so check back on the respective websites below for updates on funding.
Securing grants for your small business or start-up is a constant challenge – but there is help available. Here, we have rounded up a comprehensive list of grants from all over the UK, broken down by region.
These funds are available to SME businesses either within a specified local authority, defined as having fewer than 250 employees or with a turnover of less than £45,000 and a balance sheet totalling less than £39,000.
You will see that many of the funding opportunities are often based on a specific location or sector, or ring-fenced for a certain part of a business, like job creation or making eco-friendly changes. But we explain each grant with the information needed to see if it can apply to your project.
Grants can sometimes be combined with other forms of funding, such as banks, grant makers, crowdfunding platforms and other lenders. In fact, we have teamed up with FundingOptions.com to help you find the right finance for your business. You