Originally written by Timothy Adler on Small Business
Michael Gove has responded positively to the concept of a Brexit transition voucher to help small businesses get through Brexit.
The Cabinet Office minister, who is in charge of Brexit preparations, has said the concept of a Brexit transition voucher for small businesses which need to buy new equipment or pay for services would be looked at and required “intense conversations”.
Federation of Small Businesses, which posed the question about a Brexit transition voucher to Mr Gove, has long supported such a scheme. Last month FSB chairman Mike Cherry described transition vouchers as “a sensible way forward” – set sums which could be spent on expertise, tech and training.
>See also: Just when you thought it couldn’t get worse, business rates return in April
Last month FSB national chairman Mike Cherry said: “Given that small firms have been flat out managing coronavirus-linked disruption for the past six months, the Government needs to step in with substantial financial support to assist with transition preparations.”
The Cabinet Office minister was speaking yesterday during a conference call with 250 company leaders and business groups.
Prime Minister Boris Johnson was also on the call and reportedly made positive noises about help for small
Tag Archive for Government Grants
Hot Business News Today
150 UK small business grants to apply for right now
by Anna Jordan • • 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
Hot Business News Today
Rishi Sunak plans grants for small businesses hit by hard lockdown
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Chancellor Rishi Sunak is drawing up plans for new Treasury support for small businesses who find themselves closed because of hard lockdown.
Pubs and restaurants would be forced to close, as well as possibly non-essential retailers, at the top level of a “three-tier” lockdown strategy, which could be announced as soon as tomorrow.
Prime Minister Boris Johnson is expected to announce a simplified three-tier system of local, regional and even a national lockdown. The system has yet to be finalised, with sources telling the Times that it was “stuck in No 10”, despite hurdling coronavirus infection cases in the North and scientists urging a national “circuit-breaker”.
>See also: HSBC will not accept any more Bounce Back Loan applications
According to the draft traffic-light-style plan, obtained by the Guardian, the top-tier lockdown would include closure of hospitality and leisure businesses.
Mr Sunak has already provided grants of £1,500 to businesses forced to close under local lockdowns and said this week the government was prepared to move with “pace and scale” to deal with new problems as they arose during the crisis.
Lockdown grants
In September, the government announced that small businesses affected by a local lockdown could claim for a £1,000
Hot Business News Today
Rishi Sunak plans grants for small businesses hit by hard lockdown
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Chancellor Rishi Sunak is drawing up plans for new Treasury support for small businesses who find themselves closed because of hard lockdown.
Pubs and restaurants would be forced to close, as well as possibly non-essential retailers, at the top level of a “three-tier” lockdown strategy, which could be announced as soon as tomorrow.
Prime Minister Boris Johnson is expected to announce a simplified three-tier system of local, regional and even a national lockdown. The system has yet to be finalised, with sources telling the Times that it was “stuck in No 10”, despite hurdling coronavirus infection cases in the North and scientists urging a national “circuit-breaker”.
>See also: HSBC will not accept any more Bounce Back Loan applications
According to the draft traffic-light-style plan, obtained by the Guardian, the top-tier lockdown would include closure of hospitality and leisure businesses.
Mr Sunak has already provided grants of £1,500 to businesses forced to close under local lockdowns and said this week the government was prepared to move with “pace and scale” to deal with new problems as they arose during the crisis.
Lockdown grants
In September, the government announced that small businesses affected by a local lockdown could claim for a £1,000
Hot Business News Today
MPs back call for ‘targeted’ extension of furlough scheme
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
MPs have urged Rishi Sunak to extend the taxpayer-funded furlough scheme businesses with a chance of surviving the coronavirus crisis.
The Chancellor should “show flexibility” and target companies that are still viable when the existing furlough scheme ends in October, members of the Treasury select committee said.
The committee said the Chancellor should “carefully consider” whether a targeted extension was needed for the furlough scheme, which has protected 9.6m jobs to date at a cost of £35bn. The scheme will be wound up at the end of October. Some 11 per cent of the British workforce were on partial or full furlough in mid-August, according to a survey published on Thursday by the Office for National Statistics.
>See also: Where to find your £1,000 small business lockdown grant
The cross-party select committee said in its report on the economic impact of the COVID-19 pandemic, published today, that a large proportion of businesses in the sectors most affected by social distancing might have a long-term future.
“The key will be assisting those businesses who, with additional support, can come through the crisis as sustainable enterprises, rather than focusing on those that will unfortunately just not be viable in the
Hot Business News Today
MPs back call for ‘targeted’ extension of furlough scheme
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
MPs have urged Rishi Sunak to extend the taxpayer-funded furlough scheme businesses with a chance of surviving the coronavirus crisis.
The Chancellor should “show flexibility” and target companies that are still viable when the existing furlough scheme ends in October, members of the Treasury select committee said.
The committee said the Chancellor should “carefully consider” whether a targeted extension was needed for the furlough scheme, which has protected 9.6m jobs to date at a cost of £35bn. The scheme will be wound up at the end of October. Some 11 per cent of the British workforce were on partial or full furlough in mid-August, according to a survey published on Thursday by the Office for National Statistics.
>See also: Where to find your £1,000 small business lockdown grant
The cross-party select committee said in its report on the economic impact of the COVID-19 pandemic, published today, that a large proportion of businesses in the sectors most affected by social distancing might have a long-term future.
“The key will be assisting those businesses who, with additional support, can come through the crisis as sustainable enterprises, rather than focusing on those that will unfortunately just not be viable in the
Hot Business News Today
Where to find your £1,000 small business lockdown grant
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
The government has announced a new £1,000 small business grant for any small business in England affected by a local lockdown.
Businesses that are forced to shut because of local COVID-19 lockdowns will be able to claim up to £1,500 per property every three weeks.
Local authorities will administer the new small business local lockdown grant. You can find the full list of local authorities here.
See also: How to claim your £1,500 Kickstart Scheme grant
If a business occupies a premises with a rateable value less than £51,000 or occupy a property or part of a property subject to an annual rent or mortgage payment of less than £51,000, it will receive £1,000.
If a business has a rateable value more than £51,000 or part of a property subject to an annual rent or mortgage payment of more than £51,000, it will receive £1,500.
Extra discretionary funding
Local authorities will also receive an additional 5 per cent top up amount of business support funding to enable them to help any other small business affected by local lockdown which may not be on the business rates list. Payments made to businesses from this local authority discretionary fund can be any
Hot Business News Today
Where to find your £1,000 small business lockdown grant
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
The government has announced a new £1,000 small business grant for any small business in England affected by a local lockdown.
Businesses that are forced to shut because of local COVID-19 lockdowns will be able to claim up to £1,500 per property every three weeks.
Local authorities will administer the new small business local lockdown grant. You can find the full list of local authorities here.
See also: How to claim your £1,500 Kickstart Scheme grant
If a business occupies a premises with a rateable value less than £51,000 or occupy a property or part of a property subject to an annual rent or mortgage payment of less than £51,000, it will receive £1,000.
If a business has a rateable value more than £51,000 or part of a property subject to an annual rent or mortgage payment of more than £51,000, it will receive £1,500.
Extra discretionary funding
Local authorities will also receive an additional 5 per cent top up amount of business support funding to enable them to help any other small business affected by local lockdown which may not be on the business rates list. Payments made to businesses from this local authority discretionary fund can be any
Hot Business News Today
Alok Sharma wants to throw small businesses in lockdown lifeline grants
by Timothy Adler • • 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
Hot Business News Today
Alok Sharma wants to throw small businesses in lockdown lifeline grants
by Timothy Adler • • 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