Government Grants And Advice For Small Businesses In 2021
11 Jan 2021
Small Business Support Update January 12th 2021
Businesses in retail, hospitality and leisure will receive new grants to help them keep afloat until spring, Chancellor Rishi Sunak has said. The grants will be worth up to £9,000 per property, the Treasury says. Mr Sunak told the BBC he was "committed to protecting jobs and supporting businesses".
Find coronavirus financial support for your business - GOV.UK (www.gov.uk)
Business groups welcomed the new help as a good start but warned the money still wouldn't be enough to save many firms from collapse. The help is in addition to business rates relief and the furlough scheme, which has been extended until the end of April.
FSB chair Mike Cherry also said the funds would be a lifeline to many, but "do not go far enough to match the scale of the crisis that small firms are facing."
The British Beer & Pub Association described the grants as a "lifeline", but added that companies on which pubs rely, such as breweries, would also need help.
A record number of small firms could close in the next 12 months,
says the Federation of Small Businesses. Without further government help to cope with the effects of the pandemic, more than a quarter of a million businesses could be lost, it said.
The FSB said it had put forward ideas to help some of those firms, which it hoped ministers would adopt. Its proposed support scheme would aim to help many self-employed workers currently excluded from aid. The FSB based its prediction on a survey of 1,400 small firms, 5% of which said they expected to close this year. If those figures were replicated across the country, some 250,000 of the UK's 5.9 million small firms could disappear, it said.
FSB national chairman Mike Cherry said: "The development of business support measures has not kept pace with intensifying restrictions.
"As a result, we risk losing hundreds of thousands of great, ultimately viable small businesses this year, at huge cost to local communities and individual livelihoods."
Business Support is available for Small Business Owners in the form of Free Business Advice, Support and Grants and loans.
General Business Support and Help available online.
Government Direct Business support.
Coronavirus (COVID-19) support is available to businesses
Loans, tax relief and cash grants are available
Employers might be eligible for financial support to pay wages
Self-employed people might be eligible for a taxable grant covering 80% of trading profits
https://www.gov.uk/coronavirus/business-support
Advice and guidance on reducing the risks from the Coronavirus (COVID-19) virus to you and your business.
https://www.gov.uk/business-support-helpline
Debt and money saving ideas from top consultant
Dealing with money issues can sometimes be off-putting, but if you don't understand how things like credit or mortgages work, you could end up losing out financially or getting yourself deep in debt. The following pages will give you the information you need to make the right choices, including help to deal with your debt problems, how to avoid losing your home and how to get your finances back into shape.
https://www.citizensadvice.org.uk/
Business Advice and Support for your small business or new business start up. Specialist help for all sizes of businesses in all industry sectors helping to focus, structure and grow your business, improve profitably, and coach you in the right direction. Support and guidance to help you start, progress or develop your business.
Covid: How small businesses adapt to survive pandemic. The coronavirus pandemic has left businesses across UK facing a stark choice - adapt or pull down the shutters, possibly for good, read other people’s covid business stories.
https://www.bbc.co.uk/news/uk-wales-55258574
Coronavirus Self-Employed & Small Limited Company Help. The Self-Employment Income Support Scheme is made up of four grants. While the first two are closed, the third grant, which covers November to January, is now open. And with much of the UK in lockdown again, many businesses are now eligible.
British Chambers of Commerce. As the Coronavirus continues to impact the operations of businesses, learn more about the steps that Chambers and members can implement to minimise impact on local communities and support the UK government's strategy.
Business Covid19 Support
Business Grants
Free Small Business help
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