Weekly Digest – 23 April 2020
With the lockdown period extended until at least May 7th, we’re all adjusting to the new normal which isn’t very normal at all.
To help business owners, the government has announced some new initiatives which we’ve highlighted below. You’ll find details of these and further financial support for businesses during coronavirus (COVID-19).
Online Business Support Finder tool launch
The government has launched an online tool to help you find out what support your business is eligible for.
It can be tricky understanding what is available and this tool will help but please get in touch if you’d like to chat through any questions.
Can you claim back Statutory Sick Pay paid to employees due to coronavirus?
The Coronavirus Statutory Sick Pay (SSP) Rebate Scheme will repay employers the current rate of SSP that they pay to current or former employees for periods of sickness starting on or after 13 March 2020.
If you’re an employer who pays more than the current rate of SSP you can only claim the current rate amount.
The repayment will cover up to 2 weeks starting from the first day of sickness, if an employee is unable to work because they either:
- have coronavirus
- cannot work because they are self-isolating at home
- are shielding in line with public health guidance
Employees do not have to give you a doctor’s fit note for you to make a claim.
Read more on the government’s Business Support website.
Still thinking about growth – check out the Future Fund
While coronavirus has been devastating for some businesses, there is still opportunity out there.
If you’re lucky enough to have a business that is surviving or thriving and are looking to grow then you might be interested in the Future Fund launched by the government this week.
In short, it’s a government backed loan scheme for UK-based companies ranging from £125,000 to £5 million and subject to at least equal match funding from private investors.
Learn more about the fund one the government’s Business Support website.
Ways to help small businesses
If you want to help small businesses in your community, here are 11 ideas to help out with your time, money and other resources. The article includes good suggestions like buying gift cards, leaving positive reviews online, or ordering takeaway.
Time for some good news
We like to bring you a good news story every week. This week we have two!
Firstly, Scrubs Hub is a grassroots network of volunteer sewers who are making hospital overalls for frontline health workers. It started in East London but there are now Scrubs Hubs around the country and one in Nottingham now has 60 volunteers and has raised over £3,500 with the aim of making 1000 sets of scrubs in the coming weeks.
Secondly, a London-based A&E doctor has launched DeliverAid, a new public donation platform in response to the COVID-19 pandemic. The platform aims to raise funds for food donations for frontline NHS workers.
Here to help
It’s certainly been a tough few weeks but we’re here to help. If you have any questions or concerns, don’t hesitate to reach out to us. We are all in this together!