Tag Archive for coronavirus grant

Hot Business News Today

£9000 lockdown grant for businesses in retail, hospitality and leisure

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Originally written by Timothy Adler on Small Business
Rishi Sunak has announced a one-off £9000 lockdown grant per property for businesses in retail, hospitality and leisure.
This is to support businesses and protect jobs following the announcement of a third national lockdown by the prime minister last night. It is expected this third national lockdown will last until March.
How £9000 lockdown grant works

£4,000 for businesses with a rateable value of £15,000 or under
£6,000 for businesses with a rateable value between £15,000 and £51,000
£9,000 for businesses with a rateable value of over £51,000

The Treasury has also announced a further £594m discretionary fund to support to support other businesses not eligible for the grants, which might be affected by the national lockdown.
In total, £4.6bn worth of new lockdown grants have been made available.
And this comes on top of another £1.1bn of further discretionary funding for local authorities, local business shutdown grants worth up to £3,000 a month and extending the furlough scheme until the end of April.
The cash will be issued on a per-property basis to support businesses through the national lockdown, and is expected to benefit over 600,000 business properties, totalling £4bn in grants across Britain.
Chancellor Rishi Sunak said: “The new strain of

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Hot Business News Today

£9000 lockdown grant for businesses in retail, hospitality and leisure

by  •  • 0 Comments

Originally written by Timothy Adler on Small Business
Rishi Sunak has announced a one-off £9000 lockdown grant per property for businesses in retail, hospitality and leisure.
This is to support businesses and protect jobs following the announcement of a third national lockdown by the prime minister last night. It is expected this third national lockdown will last until March.
How £9000 lockdown grant works

£4,000 for businesses with a rateable value of £15,000 or under
£6,000 for businesses with a rateable value between £15,000 and £51,000
£9,000 for businesses with a rateable value of over £51,000

The Treasury has also announced a further £594m discretionary fund to support to support other businesses not eligible for the grants, which might be affected by the national lockdown.
In total, £4.6bn worth of new lockdown grants have been made available.
And this comes on top of another £1.1bn of further discretionary funding for local authorities, local business shutdown grants worth up to £3,000 a month and extending the furlough scheme until the end of April.
The cash will be issued on a per-property basis to support businesses through the national lockdown, and is expected to benefit over 600,000 business properties, totalling £4bn in grants across Britain.
Chancellor Rishi Sunak said: “The new strain of

Read more...

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Liverpool launches £9.5m grant fund for ‘excluded’ self-employed

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Originally written by Timothy Adler on Small Business
Liverpool has launched a £9.5m grant fund to specifically help the self-employed in hospitality and leisure excluded from government Covid support.
This includes support for the self-employed, sole traders or the home-based and their supply chains.
The Liverpool self-employed grant fund is the first in England specifically aimed at the “excluded and forgotten” from national support schemes such as the Self-Employment Income Support Scheme.
Businesses based in Halton, Knowsley, Liverpool, Sefton, St Helens and Wirral are eligible for support from the new £9.5m fund.
Last week, Liverpool mayor Steve Rotheram wrote to chancellor Rishi Sunak alongside London mayor Sadiq Khan and Manchester mayor Andy Burnham urging him to do something for the 3m self-employed who have found themselves excluded from national support.
It is estimated that there are 3m self-employed excluded from government Covid-19 business support.
Forgotten Limited, the pressure group for small limited company directors affected by the pandemic, said that 70 per cent of its members had not received any government support since the onset of the pandemic in March. Even if they make it to Christmas, 93 per cent doubted their small limited companies would still be trading by Easter.
Mr Rotheram said: “This latest round of

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Hot Business News Today

Liverpool launches £9.5m grant fund for ‘excluded’ self-employed

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Originally written by Timothy Adler on Small Business
Liverpool has launched a £9.5m grant fund to specifically help the self-employed in hospitality and leisure excluded from government Covid support.
This includes support for the self-employed, sole traders or the home-based and their supply chains.
The Liverpool self-employed grant fund is the first in England specifically aimed at the “excluded and forgotten” from national support schemes such as the Self-Employment Income Support Scheme.
Businesses based in Halton, Knowsley, Liverpool, Sefton, St Helens and Wirral are eligible for support from the new £9.5m fund.
Last week, Liverpool mayor Steve Rotheram wrote to chancellor Rishi Sunak alongside London mayor Sadiq Khan and Manchester mayor Andy Burnham urging him to do something for the 3m self-employed who have found themselves excluded from national support.
It is estimated that there are 3m self-employed excluded from government Covid-19 business support.
Forgotten Limited, the pressure group for small limited company directors affected by the pandemic, said that 70 per cent of its members had not received any government support since the onset of the pandemic in March. Even if they make it to Christmas, 93 per cent doubted their small limited companies would still be trading by Easter.
Mr Rotheram said: “This latest round of

Read more...

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When and where to apply for the new 80% self-employed grant

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Originally written by Timothy Adler on Small Business
Rishi Sunak has announced that the third self-employed income support grant covering November to January will increase to 80 per cent of profits.
The next self-employed grant will be capped at £7,500 per person, based on average trading profits.
The online service for the next self-employed grant will be available from November 30 through the GOV.UK website.
>See also: Self-employed Income Support Scheme (SEISS) to be doubled for November
The self-employed grant is taxable income and also subject to National Insurance contributions.
The government has already announced there will be a fourth grant covering February to April 2021, the level of which has yet to be announced.
Universal Credit U-turn
The government has also extended the suspension of the Minimum Income Floor, a rule within the universal credit system which capped payments to self-employed workers to the equivalent of what you’re given if you are working full-time on minimum wage but still claiming.
The Treasury said that the cost of support for the self-employed would be up to £7.3bn, £2.8bn of which was new money announced for the third self-employed grant.
Who’s still excluded from the self-employed grant
However, swathes of the self-employed – calculated to be 690,000 people – are still excluded

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Hot Business News Today

When and where to apply for the new 80% self-employed grant

by  •  • 0 Comments

Originally written by Timothy Adler on Small Business
Rishi Sunak has announced that the third self-employed income support grant covering November to January will increase to 80 per cent of profits.
The next self-employed grant will be capped at £7,500 per person, based on average trading profits.
The online service for the next self-employed grant will be available from November 30 through the GOV.UK website.
>See also: Self-employed Income Support Scheme (SEISS) to be doubled for November
The self-employed grant is taxable income and also subject to National Insurance contributions.
The government has already announced there will be a fourth grant covering February to April 2021, the level of which has yet to be announced.
Universal Credit U-turn
The government has also extended the suspension of the Minimum Income Floor, a rule within the universal credit system which capped payments to self-employed workers to the equivalent of what you’re given if you are working full-time on minimum wage but still claiming.
The Treasury said that the cost of support for the self-employed would be up to £7.3bn, £2.8bn of which was new money announced for the third self-employed grant.
Who’s still excluded from the self-employed grant
However, swathes of the self-employed – calculated to be 690,000 people – are still excluded

Read more...

Hot Business News Today

Alok Sharma wants to throw small businesses in lockdown lifeline grants

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Originally written by Timothy Adler on Small Business
Alok Sharma, the business secretary, is considering renewing lifeline grants for small businesses which find themselves in sudden local lockdowns.
Ministers are worried about the effects on local economies, especially in the North, if small businesses have to shut up shop again because of wildcat lockdowns.
The so-called Red Wall constituencies in the North of England will be especially vulnerable to sudden lockdown once the furlough scheme comes to end in October.
>See also: How to claim your £1,500 Kickstart Scheme grant
Ministers are looking at a system of local lifeline grants to help small businesses keep staff on, modelled on an £11bn scheme used during the lockdown, according to The Times.
Pubs, cafés, restaurants, hotels and other hospitality businesses forced to close during the lockdown were eligible for grants worth up to £25,000 each, while other small businesses were handed £10,000 in one-off support.
Almost one fifth (17 per cent) of small businesses don’t think they’d survive another lockdown and would be forced to stop trading permanently if one came into effect, according to a new report by small business insurer Simply Business.
Alan Thomas, UK CEO at Simply Business, said: “The nationwide lockdown has had a significant effect

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Hot Business News Today

Alok Sharma wants to throw small businesses in lockdown lifeline grants

by  •  • 0 Comments

Originally written by Timothy Adler on Small Business
Alok Sharma, the business secretary, is considering renewing lifeline grants for small businesses which find themselves in sudden local lockdowns.
Ministers are worried about the effects on local economies, especially in the North, if small businesses have to shut up shop again because of wildcat lockdowns.
The so-called Red Wall constituencies in the North of England will be especially vulnerable to sudden lockdown once the furlough scheme comes to end in October.
>See also: How to claim your £1,500 Kickstart Scheme grant
Ministers are looking at a system of local lifeline grants to help small businesses keep staff on, modelled on an £11bn scheme used during the lockdown, according to The Times.
Pubs, cafés, restaurants, hotels and other hospitality businesses forced to close during the lockdown were eligible for grants worth up to £25,000 each, while other small businesses were handed £10,000 in one-off support.
Almost one fifth (17 per cent) of small businesses don’t think they’d survive another lockdown and would be forced to stop trading permanently if one came into effect, according to a new report by small business insurer Simply Business.
Alan Thomas, UK CEO at Simply Business, said: “The nationwide lockdown has had a significant effect

Read more...

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Almost 70,000 SMEs risk missing out on government coronavirus grants

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Originally written by Anna Jordan on Small Business
A massive 69,543 of eligible SMEs in England have yet to claim for the government coronavirus grants announced back in March.
This amounts to almost £1.5bn worth of funding, as revealed by new figures from money.co.uk.
So far the government has given almost one million small to medium-sized businesses in England an emergency coronavirus grant – either in the form of the Small Business Grants Fund (SBGF) or the Retail, Hospitality and Leisure Business Grants Fund (RHLGF)
Earlier in August, figures showed that £10.8bn had been paid out to businesses, highlighting that a significant sum of this money has gone unclaimed.
The deadline for claiming these grants is this Friday, August 28 and any unassigned funding will be returned to the government.
>See also: You have just one month to claim up to £1.6bn in unspent grants
How much grant funding has my local authority given out?
The average grant provided by English councils is £12,269. Camden is giving out the most per grant, providing SMEs an average of £18,852. This is closely followed by the Royal Borough of Kensington and Chelsea (£18,740) and Westminster Council (£17,615).
Out of the top 20, three quarters (75 per cent) of local authorities paying

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Where to find your £5,000 small business technology grant

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Originally written by Timothy Adler on Small Business
The Government has announced a new £20m IT funding package to help small businesses get through the coronavirus pandemic.
Small and medium-sized businesses can access a small business technology grant between £1,000 and £5,000 to spend on new equipment and IT and professional advice.
The small business technology grant can be spent on the following:

Accountants
Financial
Human resources
IT and digital
Legal

Or it can be used to buy minor equipment to adapt or adopt new technology in order to carry on trading or diversify during the COVID-19 pandemic.
>See also: You have just one month to claim up to £1.6bn in unspent grants
And the cash could also be used to stage events providing guidance to businesses responding to coronavirus.
Ironically, given the Government’s pro-Brexit stance, the money is coming through the last hurrah of the European Regional Development Fund, the EU fund which supports poorer regions.
The £20m worth of technology and support grants are being administered by the Government’s 38 regional growth hubs.
>See also: Rishi Sunak gives small businesses £2000 grants for young trainees
You can find the list of growth hubs where you apply for the new £1,000 to £5,000 small business technology grants here.
Regional growth minister Simon Clarke said: “We

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