My business is struggling with cashflow due to the coronavirus, what help is available to us?
We know that these are challenging times. If your business is struggling with cashflow as a result of the coronavirus, the government has published information about the support available for employers such as:
- the Coronavirus Job Retention Scheme, if you are struggling with maintaining your current levels of staff
- deferring VAT and Self-Assessment payments
- a Statutory Sick Pay relief package for small and medium sized businesses
- a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in Great Britain
- small business grant funding of £10,000 for all businesses in receipt of small business rate relief or rural rate relief
- grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
- the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for small and medium sized business through the British Business Bank
- a new lending facility from the Bank of England to help support liquidity among larger firms
- the HMRC Time To Pay Scheme
Find out about the different support packages available on the Business Support website.