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COVID-19 Business Support

A full range of business support measures have been made available to UK businesses and employees by the Government in response to the Covid-19 epidemic.

On 17th March, the Chancellor announced unprecedented support for business and workers to support the economy and businesses large and small. The package of government-backed and guaranteed loans to support businesses, making available an initial £330bn of guarantees.

That support will be delivered through two main schemes:

The Chancellor also announces tax cuts of nearly £20bn for British businesses. The package of measures to support businesses include:

  1. A Coronavirus Job Retention Scheme
  2. Deferring VAT and Income Tax payments
  3. A Statutory Sick Pay relief package for small and medium sized businesses (SMEs)
  4. A 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
  5. Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
  6. Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
  7. The Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
  8. A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
  9. The HMRC Time To Pay Scheme
  10. The Self-employment Income Support Scheme (SEISS)

A detailed guide to the various business support that is available can be accessed here 

Further details of the Government support measures can be viewed at https://www.businesssupport.gov.uk/coronavirus-business-support/

For all enquiries on how your business is impacted and what support is available please contact the Business Support Team at Hartlepool Council on (01429) 867677 or email business.support@hartlepool.gov.uk.