What funding is available for your business during this COVID-19 crisis?

Government Funding for Businesses.

As The COVID-19 pandemic is still on going and businesses are still uncertain on how they will hit this head on. We have gathered some key points from the government’s announcements in the recent weeks, to try help those businesses who are uncertain on the future.

The government has announced a £330 billion loan to help businesses survive this economic crisis. This loan will be available for those who need to pay their rent, salaries, suppliers or purchasing new stock. The British government has also said if more money is demanded to keep our businesses a float during this crisis it will become available.

A £2.2 billion package will be available to Scottish businesses who are suffering from the COVID-19 crisis. The government has also said that £80 million will be available for businesses that are facing the worst of the economic impact due to COVID-19 so they will receive a £3,000 grant to pay employees etc.

The government will also pay for SSP (statuary sick pay) for any employees who are taken time off their work due to the coronavirus. This will cover 14 days (2 weeks) to keep people having an income to get essentials.
There is a helpline available to businesses: 0300 303 0660

This is available from 8.30 am to 5.30 pm Monday to Friday.