This page will be updated as and when there are further announcements from the Government. This page was last updated on 4 June 2020
The dedicated page for business guidance on the gov.uk website will also be updated and can be found at: www.gov.uk/coronavirus/business-support
You can also call Government’s Business Support Helpline to get advice on how you can be assisted, as well as to ask questions regarding any of the information below. The number is: 0300 456 3565
There is an online tool to see what support is available for you and your business. You can find this here: www.gov.uk/business-coronavirus-support-finder
Coronavirus Job Retention Scheme
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.
The Coronavirus Job Retention Scheme is changing:
From 1 July, employers can bring back to work employees that have previously been furloughed for any amount of time and any shift pattern, while still being able to claim CJRS grant for their normal hours not worked. When claiming the CJRS grant for furloughed hours employers will need to report and claim for a minimum period of a week.
The scheme will close to new entrants from 30 June. From this point onwards, employers will only be able to furlough employees that they have furloughed for a full 3 week period prior to 30 June.
This means that the final date by which an employer can furlough an employee for the first time will be 10 June, in order for the current 3 week furlough period to be completed by 30 June. Employers will have until 31 July to make any claims in respect of the period to 30 June.
Further guidance on flexible furloughing and how employers should calculate claims will be published on 12 June. Find out more information on how the Coronavirus Job Retention Scheme is changing.
Business rates relief
- Check if your retail, hospitality or leisure business is eligible for business rates relief due to coronavirus (COVID-19)
- Check if your nursery is eligible for business rates relief due to coronavirus (COVID-19)
Business support grant funds
- Check if you're eligible for the coronavirus Small Business Grant Fund
Small businesses in England which pay little or no business rates are entitled to a one-off cash grant of £10,000 from their local council.
- Check if you're eligible for the coronavirus Retail, Hospitality and Leisure Grant Fund
Businesses in England in the retail, hospitality and leisure sectors are entitled to a one-off cash grant of up to £25,000 from their local council.
- Apply for the coronavirus Local Authority Discretionary Grants Fund
Small and micro businesses with fixed property costs that are not eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant Fund may be eligible for the Discretionary Grants Scheme.
Support for small and medium-sized businesses
- Apply for the Coronavirus Business Interruption Loan Scheme
The scheme helps small and medium-sized businesses to access loans and other kinds of finance up to £5 million.
The government guarantees 80% of the finance to the lender and pays interest and any fees for the first 12 months.
- Apply for the coronavirus Future Fund
The Future Fund provides government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.
- Apply for a coronavirus Bounce Back Loan
The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.
The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.
Support for large businesses
- Apply for the Coronavirus Large Business Interruption Loan Scheme
- Apply for the COVID-19 Corporate Financing Facility