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Help and Support for Businesses During COVID19 Disruption

Due to the disruption caused by the recent outbreak of Coronavirus (COVID19), many business owners have been left concerned for their finances and worried about the future of their business. The Government has put together a range of schemes and support packages for public services, people and businesses during these difficult times.

Some of these schemes/measures include:

  • a Coronavirus Job Retention Scheme
  • deferring VAT and Self-Assessment payments
  • a Self-employment Income Support Scheme
  • a Statutory Sick Pay relief package for small and medium sized businesses (SMEs)
  • a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
  • small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
  • grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
  • the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
  • 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
  • the HMRC Time To Pay Scheme

To find out eligibility, further information and how to apply for the above, follow the link below : www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

Businesses Local to Colchester

Colchester Borough Council have been provided with £42 million by the Ministry of Housing, Communities and Local Government to support local businesses as of 1st April 2020, as part of the Government’s response to COVID-19. The council will be distributing this money as grants for small businesses, and are now beginning to contact those who are eligible.

Eligibility for the small business grant scheme is as follows –

  • Your business is based in England
  • You are a business that occupies property
  • You are receiving small business rate relief or rural rate relief as of 11 March

Keep up to date by following Colchester Borough Council’s website – www.colchester.gov.uk/coronavirus/businesses

Colchester Business Enterprise Agency (COLBEA) is continuing to offer business advice and support through telephone appointments or video conferences. To book your appointment, please call us on 01206 548833.

Colchester Business Enterprise Agency (COLBEA) is continuing to offer business advice and support through telephone appointments or video conferences. To book your appointment, please call us on 01206 548833.

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Colbea CENTRAL Colchester

1 George Williams Way

Colchester

Essex

CO1 2JS

Call: 01206 548 833

Email: enquiries@colbea.co.uk

Hours: 8:30AM – 5:30PM Mon-Fri

Colbea NORTH Colchester

340 The Crescent

Colchester

Essex

CO4 9AD

Call: 01206 848 420

Email: enquiries@colbea.co.uk

Hours: 8:30AM – 5:30PM Mon-Fri

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