There is now improved guidance on calculation methods, definitions of forgivable expenses and the documents that must be submitted with the forgiveness request.
Monthly Archives: May 2020
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Not enough grant money to go around, warns Bristol Council
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
Bristol Council warns that the government hasn’t given them enough grant funding to help small businesses to survive lockdown, according to the Financial Times.
In early May, the government offered £617m for businesses that missed out on the earlier business rates grants scheme. These grants will be distributed to businesses that operate in shared workspaces, market traders, charity shops and bed and breakfasts.
The funding doesn’t stretch far enough for all of those who are eligible, leaving it for the councils to decide who should benefit. A number of tech companies and boutiques operate from shared spaces where business rates are often incorporated into the rent.
Craig Cheney, deputy mayor of Bristol, says that the city had at least 1,700 businesses in shared spaces but only £3.5m to allocate.
“To give them all £10,000 we would need £17m. We have got 400 market traders and we estimate 110 B&Bs. It is going to be hard to administer,” he said.
The city has 21,000 businesses with fewer than 50 employees and only 7,000 have received support so far. It’s opening applications on Monday for two weeks but hasn’t decided on what basis to allocate the money.
Matt Griffith, director of
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The 5 Best Tax and Financial Franchises You Can Open This Year
by Matthew McCreary • • 0 Comments
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Apple Explains How Its Reopened Retail Stores Will Be Different
by Matthew Humphries • • 0 Comments
Visiting an Apple store will involve a temperature check, face mask, and a one-to-one service.
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2020 Graduates Can Launch Their Photo Aboard Historic SpaceX Flight
by Stephanie Mlot • • 0 Comments
Students around the world can upload an image by Wednesday, May 20 to ‘fly’ to the International Space Station.
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Today Is Officially the Deadline for Companies to Return Their SBA PPP Loans
by Kenny Herzog • • 0 Comments
Businesses that received big bucks from the government stimulus fund are on the clock. And that could mean more money available for everyone else.
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Dyson Finally Unveils Its Canceled Electric Car
by Richard Lai • • 0 Comments
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How a Montana Microdistillery Pivoted to Make Hand Sanitizer for NYC
by Cheryl Snapp Conner • • 0 Comments
Business is anything but usual, but risk tolerance and a dose of disruption can keep your company afloat.
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Salesforce and Enterprise Nation launch £5,000 grant for small businesses
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
Salesforce is teaming up with Enterprise Nation to offer a grant of £5,000 for small businesses.
This will help them as they reopen, adapt their business models and get back to some kind of normality. Salesforce is offering a total of $1m (£920,000) in support to businesses across the UK.
Funding will be administered by Enterprise Nation through a selection process. If your initial entry is shortlisted, you’ll be invited to send in a video pitch with an introduction to your business; how your business has been affected by coronavirus; and how securing the grant will help your business, on what it will be spent and how it will positively impact the community.
Small businesses with 2-50 employees can apply for the scheme. Be aware that the process will be staggered. Firms in Northern Ireland can apply between 18 May and midnight on 24 May and the rest will open as follows:
Midlands: 1-7 June
South of England: 15 -21 June
Scotland: 29 June – 5 July
Wales: 13-19 July
North of England: 27 July – 2 August
Companies that apply for the grant will also have access to Enterprise Nation membership, including free half-hour consultations with experts in marketing, strategy and
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Government looking at bringing in part-time furlough immediately
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
The government is listening to retailers about being allowed to bring back furloughed staff on a part-time basis, according to one senior source.
Although independent retailers are being asked to reopen from June, the Coronavirus Job Retention Scheme will only allow part-time furlough from August.
Given a cratered economy and uncertain demand, retailers are asking why the government insists on this all-or-nothing approach.
Some shops are gingerly reopening towards the end of the working week but would have to pay staff taken off furlough fully time.
“Part-time furlough has been raised by retailers and a number of MPs. It’s something that we’re looking at and try to respond to,” said the source.
“By extending the furlough scheme in the first place, and then extending it a second time, it shows that we’re listening. We do listen and hope we’re being seen to be flexible and responsive.
“Businesses are burning though cash with no changed in fixed costs. We are never going to have had perfection implementing schemes at such speed and scale.”
Self-employed owner-directors
Meanwhile, the government is still thinking about how to open up the Self-Employed Income Support Scheme (SEISS) to self-employed owner directors.
The problem, said the source, is that