Let’s talk business. The impact that COVID-19 will have on the UK is still uncertain. What is certain is there’s help in place to help get small businesses through these challenging times.
We want to make sure you have access to all the resources you need, so we’ve rounded up some information on the financial supports that may help you weather the storm.
Financial support for your business
As a small business, losing revenue as a result of the COVID-19 outbreak is worrying. To minimise the negative impact on your business, the Coronavirus Business Interruption Loan Scheme (CBILS) has been created. This scheme provides financial support to smaller businesses who are losing revenue or seeing a disruption to their business during this time.
The scheme is part of a wider package provided by the government and there are over 40 accredited lenders working to provide this financial help.
The British Business Bank provides more information about the scheme, including how it works and the key features, you can find out more here.
There’s heaps of ways that the CBILS can support your business, including helping your business access finance where you wouldn’t ordinarily be eligible. Take a look at Barclays’ useful breakdown of the scheme.
Protecting your employees
As small businesses continue to feel the economic effect of the ongoing COVID-19 pandemic. One of the measures that the UK government has introduced to help businesses stay afloat is the Job Retention Scheme. This has been designed to help employers if they cannot cover staff costs due to COVID-19.
These are just a few of the available measures in place to support you. The UK government have released a full package – you can find everything you need on their website.
We’re still here supporting you
Don’t forget, if you’re a names.co.uk customer, we are committed to providing you with the very best support we can. We continue to provide our services as normal from the safety of our homes. We understand you may be busy dealing with your customers, but please don’t hesitate to get in touch if you have any questions relating to your services.
Check out our website for more information about how we’re responding to the COVID-19 crisis. Plus keep an eye on our blog for updates on ways to help your business during these difficult times.
