Coronavirus (COVID‑19) support is available to employers and the self-employed, including sole traders and limited company directors. You may be eligible for loans, tax relief and cash grants, whether your business is open or closed.
The Chancellor has announced grants that will be payable to businesses that are required to shut as part of the current lockdown enforced on the 5th January 2021
Local Restrictions Support Grants, Additional Restrictions Grant and Restart Grant infomation can be found here:
Help for businesses | Bath and North East Somerset Council (bathnes.gov.uk)
Apply for the Coronavirus Business Interruption Loan Scheme
The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses affected by COVID-19. 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. Read more.
Apply for the coronavirus Future Fund
This scheme will issue convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak. www.gov.uk/guidance/future-fund
Apply for a coronavirus Bounce Back Loan
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. 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.
Apply for the Coronavirus Large Business Interruption Loan Scheme
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to larger businesses affected by coronavirus (COVID-19). The scheme helps medium and large sized businesses to access loans and other kinds of finance up to £200 million.
The government guarantees 80% of the finance to the lender.
Apply for the COVID-19 Corporate Financing Facility
This scheme helps large businesses affected by COVID-19 through the purchase of their short-term debt.
Coronavirus Job Retention Scheme
Check if you can claim for wages through the Coronavirus Job Retention Scheme and find out how to claim here.
Check if you can claim back Statutory Sick Pay paid to employees due to COVID-19
You can use the Coronavirus Statutory Sick Pay Rebate Scheme to claim back employees' coronavirus-related Statutory Sick Pay (SSP).
Defer your Self Assessment payment on account due to COVID-19
Choose how and when you can delay making your second payment on account for the 2019 to 2020 tax year. Read more in the Government Guidance.
Check if you can claim a grant through the Self-Employment Income Support Scheme
If you're self-employed or a member of a partnership and have been adversely affected by coronavirus find out if you can use this scheme to claim a grant here.
Additional Funding Streams
The Department for Digital, Culture, Media and Sport have provided a summary of the funding streams available as part of the £1.57 billion Culture Recovery Fund. These may be of interest to councils and local community organisations and businesses:
- Grants from Arts Council England - £500 million has been made available for cultural organisations that are at risk of failure and who need funding of up to £3 million
- Finance from Arts Council England - £270 million is available in repayable finance
- Capital expenditure fund for existing Arts Council England capital grant holders – funding available to those who can demonstrate a capital funding shortfall due to COVID-19
- Cultural Recovery Fund for Independent Cinemas – funding is available from the Government for building-based independent cinemas who provide year-round filming programming, through a fund administered by the British Film Institute
- Capital funding for heritage – there is a £50 million heritage stimulus fund aimed at restarting vital constructions and maintenance projects on heritage starts, that were stalled due to the restrictions caused by COVID-19. This fund is administered by Historic England.
Art Fund network grants
Provide funding to support Subject Specialist Networks (SSNs) and other curatorial and professional networks in sharing expertise across the museum sector, for the benefit of collections and audiences. Visit the website to view their open funding programmes, including their new Respond and Reimagine grants to help museums, galleries and cultural organisations respond to the immediate challenges posed by the Covid-19 crisis.
Youth Music has announced an Emergency Fund to offer additional support to music-making organisations affected by coronavirus.
Sport England are committing up to £210 million of funding to help the sport and physical activity sector through the ongoing coronavirus crisis.
- £35m Community Emergency Fund
- £5m sector partner fund
- £55m sector stimulation
- £115m funding rollover for funding partners
In addition to funding the sector, Sport England also issued an open call to innovators as they looked for solutions to existing inequalities in activity levels that have been worsened by coronavirus.
Please do discuss this with your point of contact within Sport England, or you can get in touch with them using email@example.com, or calling 03458 508 508 or using their live chat function online if you want to discuss what this means for you specifically.
The Prince’s Trust and NatWest Enterprise Relief Fund
The £5million Enterprise Relief Fund will offer grants to 18 to 30-year olds across the UK who are self-employed and/or running their own business. In conjunction with cash grants, the initiative will offer one-to-one support and guidance to anyone who needs it and who may be worried about their future.
To be eligible to apply, you must be a business owner aged 18 to 30, who set up their business in the last four years and don't have any other source of income during the crisis.
Facebook Business are looking to fund 30,000 eligible small businesses in more than 30 countries. To be eligible to apply, you must:
- Have between 2 and 50 employees
- Have been in business for over a year
- Have experienced challenges from COVID-19
- Be in or near a location where Facebook operates
This grants programme will launch in the coming weeks. Facebook are still working through eligibility details for you’re the UK but sign up on their website for future updates. In the meantime, you can visit our Business Resource Hub for helpful resources.
Quartet Community Foundation (QCF) awards grants to support community based work that has a charitable purpose. Primarily grants are awarded to organisations based and working in the West of England to benefit local people and where a relatively small amount of funding can make a significant difference.
CITB Skills and Training Fund
CITB Skills and Training Fund has been refreshed and now encompasses two strands supporting; micro and small companies (up to 100 employees), medium sized businesses (up to 250 employees) to become a wider offer for employers. CITB has adapted to the COVID-19 situation by amending the scope of activity that will be supported offering more flexibility on what businesses can apply for.
The fund comprises of two streams:
- A Skills and Training fund for micro and small businesses where businesses can apply for a maximum of £10,000 (full details and how to apply) depending on the size of the employer.
- A Skills and Training fund for medium-sized businesses where employers with up to 250 employees are eligible to receive up to £25,000 (full details and how to apply).
Based on employer need the fund will allow businesses to define then address their particular challenges. The focus has broadened from productivity and innovation, to helping employers with business sustainability and skill retention – key concerns for the construction industry in the extraordinary circumstances we find ourselves in at the moment.