Tag Archive for Questions & Answers

Originally written by Timothy Adler on Small Business
Coronavirus government statutory sick pay – and how to apply for it
The government will meet the cost of coronavirus statutory sick pay (SSP) for small businesses with up to 250 employees for 14 days, providing over £2 billion for up to two million businesses.
SSP will now be available for eligible individuals diagnosed with coronavirus or those who are unable to work because they are self-isolating in line with government advice.
The weekly allowance for SSP will increase from £94.25 to £95.85 on 6 April.
>See also: Budget 2020 what it means for small business – analysis and live blog
This is in addition to the change announced by prime minister Boris Johnson that SSP will be payable from day one instead of day four for affected individuals.

People who are advised to self-isolate for coronavirus will soon be able to obtain an alternative to the fit note to cover this by contacting NHS 111, rather than visiting a doctor. This can be used by employees where their employers require evidence.

Coronavirus help for self-employed

For the self-employed not eligible for SSP, contributory Employment and Support Allowance will be payable, at a rate of £73.10 a week if you are

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How do I apply for a Coronavirus Business Interruption Loan?

by Timothy Adler • March 12, 2020 • 0 Comments

Originally written by Timothy Adler on Small Business
How do I apply for a Coronavirus Business Interruption Loan?
The government has announced a new temporary Coronavirus Business Interruption Loan scheme, as part of a package of measures to help small business.
British Business Bank will deliver the loan scheme, which will launch within the next few weeks to support SMEs to access bank lending and overdrafts.
The government will provide lenders with a guarantee of 80 per cent of each loan – subject to a per-lender cap on the number of bad loans it can claim for.
>See also: Coronavirus government statutory sick pay – how to apply for it
The scheme will support loans of up to £1.2m per small business. This new guarantee, which replaces the existing Enterprise Finance Guarantee (EFG), will initially support up to £1bn of lending.
Like the EFG, the idea is to give lenders more confidence in approving credit decisions for small businesses that have insufficient security to meet the lender’s normal requirements.
However, the Coronavirus Business Interruption Loan will offer more attractive terms for both small business and lenders than the EFG.
Lenders will not charge small businesses or banks for this guarantee.
However, the small business borrower will always remain 100-per-cent liable

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How do I get the government £3,000 coronavirus grant?

by Timothy Adler • March 12, 2020 • 0 Comments

Originally written by Timothy Adler on Small Business
How do I get the government £3,000 coronavirus grant?
The government has announced small businesses that already pay little or no business rates will be eligible for a one-off coronavirus grant worth up to £3,000.
For a commercial property with a rateable value of £12,000, this is one quarter of its rateable value, or comparable to three months of rent.
>See also: How do I apply for a Coronavirus Business Interruption Loan?
Around 700,000 businesses in England currently eligible for Small Business Rate Relief (SBBR) or Rural Rate Relief can apply for the emergency funding.
The additional £2.2bn of funding for local authorities is part of a package of fiscal measures to help small business survive the coronavirus pandemic.
However, the £3,000 coronavirus grant only applies to small business in England. Business rates in Scotland, Wales and Northern Ireland are set by their devolved administrations.
This comes on top of the government announcing in the 11 March Budget that companies in the retail, leisure and hospitality sectors with a rateable value of less than £51,000 will not pay any business rates this year.
The discount that pubs receive on their business rates will increase from £1,000 to £5,000.
The government will also

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Small Business Minister Kelly Tolhurst – ‘Tech is key to solving productivity’

by Timothy Adler • October 16, 2019 • 0 Comments

Originally written by Timothy Adler on Small Business
EXCLUSIVE: Following on from last week’s announcement that the government has awarded £2m to fund projects aiming to boost small business productivity and tackle late payments, Smallbusiness.co.uk grabbed 10 minutes with Small Business Minister Kelly Tolhurst.
Kelly Tolhurst has been Small Business Minister since July 2018, having been the MP for Rochester and Strood since 2015. Before that, Kelly Tolhurst ran her own marine survey business with her boat-builder father.
>See also: Business rates reform key, says Labour business chairman Rachel Reeves
If you had a magic wand, what’s the one thing you would do to boost small business productivity?
Really, there’s no magic wand, there’s a whole range of things we need to tackle and work with the SME market to boost productivity. There are a whole number of reasons and a whole number of measures that decide whether a business is productive or not, so one of the things I’ve been focusing on is around late payments. We know that technology helps productivity. And we know that late payment we know are a big challenge to the small business sector. That’s why we’ve put out the £1m Business Basics Funding round to encourage business to come

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Norah Coelho of PayPal Q&A: ‘Getting access to finance is incredibly important’

by Timothy Adler • March 14, 2019 • 0 Comments

Since 2014, PayPal has provided more than £1 billion in financing to the UK’s small businesses through its Working Capital lending programme. So far, 37,000 UK small businesses have taken PayPal up on its forward funding offer. Indeed, SME lending was up 60 per cent year-on-year. PayPal-registered businesses can borrow anything from £1,000 to £150,000
The post Norah Coelho of PayPal Q&A: ‘Getting access to finance is incredibly important’ appeared first on Small Business.

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I couldn’t speak English, now I run my own business – podcast

by Anna Jordan • March 1, 2019 • 0 Comments

Welcome back to Small Business Snippets, the podcast from SmallBusiness.co.uk In this episode, Anna Jordan chats to Lara Khalaf, a Syrian-born personal coach, executive coach and leadership trainer who works exclusively with women. She talks about her experiences of coming to the UK in her mid-twenties all the way through to launching her own business.
The post I couldn’t speak English, now I run my own business – podcast appeared first on Small Business.

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Small Business Q&A with Sanj Mahal, CEO and Founder of AndCo

by Michael Somerville • October 16, 2018 • 0 Comments

Increased popularity of flexible working among millennials gave AndCo’s founder, Sanj Mahal, the idea to set up an online platform (not to be confused with Fiverr owned ‘And Co’) to give employees more options and flexibility to work away from the home and office. Here, he talks about how he set up the business and how
The post Small Business Q&A with Sanj Mahal, CEO and Founder of AndCo appeared first on Small Business.

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by Timothy Adler • March 12, 2020 • 0 Comments

by Timothy Adler • March 12, 2020 • 0 Comments

by Timothy Adler • March 12, 2020 • 0 Comments

by Timothy Adler • October 16, 2019 • 0 Comments

by Timothy Adler • March 14, 2019 • 0 Comments

by Anna Jordan • March 11, 2019 • 0 Comments

by Anna Jordan • March 1, 2019 • 0 Comments

by Michael Somerville • October 16, 2018 • 0 Comments