Coronavirus Business Support

LATEST UPDATES
12/04/2020: Chancellor extends furlough scheme until October
Chancellor Rishi Sunak today annunced that the UK furlough scheme will be extended to October, and the Government will continue to offer 80% of employee monthly salaries up to a value of £2,500. For further information go to: https://www.gov.uk/government/news/chancellor-extends-furlough-scheme-until-october 
 
04/05/2020: Bounce Back Loans
Today the Bounce Back Loan scheme opens for applications targeting small and micro businesses affected by the Coronavirus. The scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000. The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.
 
Loan terms will be up to 6 years. No repayments will be due during the first 12 months. The government will work with lenders to agree a low rate of interest for the remaining period of the loan. The scheme will be delivered through a network of accredited lenders. Read more here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/
 
20/04/2020: Coronavirus Job Retention Scheme Launches
Today the Government has launched the Coronavirus Job Retention Scheme which offers a grant to cover 80% of furloughed employee monthly wage costs, up to £2,500 a month. To find out how to make a claim follow the link https://bit.ly/2VnSpiT
 
Be sure to have read the guidance and have prepared all the necessary information before attempting to make a claim. To watch the video guidance, go to https://www.youtube.com/watch?v=btea4KIDFPU
 
09/04/2020: City of York Council Support Fund for Small & Micro Businesses
The CYC micro business grants scheme will deliver grants of up to £1000 into 1000 self-employed, micro and small businesses who need it most. This fund is intended for businesses who are not eligible for other grants.
Applications can be made through https://www.york.gov.uk/COVIDMicroGrant 
 

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The start of 2020 has been extremely tough with the impact of flooding and Coronavirus. The York Business Improvement District (BID), Make It York and the City of York Council are co-ordinating efforts to ensure business owners have information on how to access help at this time.

The Chancellor has set out a package of measures to help businesses through this period of disruption. For information on how to access these measures, York businesses are being encouraged to visit https://www.york.gov.uk/BusinessSupport for the latest business support updates.

This portal summarises what support is available, how to access it, and it will be kept updated in the coming days as more information is released from the government.

This Government 'Coronavirus Finacial Support' website offers further information about the support available: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

 

Free advertising for local business:
Are you still open and able to deliver? We’re supporting free advertising for local business. Sign up at:

York Mix – https://www.yorkmix.com/advert-listing/
York Press – https://www.yorkpress.co.uk/news/18345810.coronavirus-city-york-council-teams-press-back-businesses/
Minster FM also has a free message board which the presenters are using for live readouts – https://www.minsterfm.com/listings/cancellations-and-closures/

 

Other Support:

Self-employment Income Support Scheme: https://www.businesssupport.gov.uk/self-employment-income-support-scheme/

Government Guidance for Employers: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19

Arts Council england Cultural Sector Support: https://www.artscouncil.org.uk/covid19

 
 
If you would like to talk to a member of our team about the information above, please feel free to get in touch on info@theyorkbid.com or 01904 809970.
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