Important update on COVID-19 for businesses
The Greater Lincolnshire LEP is committed to bringing you the most relevant and important information direct from Government and supporting our business community.
Public safety is the Government’s top priority to the COVID-19 outbreak. The Government recognises that people will be concerned about the effect it will have on their businesses and employment and about reduced demand and potential disruptions to supply chains, export markets and their workforce during this unprecedented period.
The Chancellor announced in the Budget a £12 billion plan to provide support for public services, individuals and businesses whose finances are affected by COVID-19. This was followed up with an announcement of a further £350 billion package of guarantees to support business.
In response to the situation, we are implementing a single contact point to collate business intelligence and to assist us in feeding the needs of our business community into Government as a consolidated and impactful evidence base with a single, united voice.
Please email your comments and concerns to GLLEPBusinessIntelligence@lincolnshire.gov.uk.
The Government is also calling for any businesses currently making or able to switch production to ventilators to please call the BEIS Business Support helpline on 0300 456 3565 where a specific team is in place from 17th March 2020.
The Chancellor has set out a package of measures to support public services, people and businesses through this period of disruption caused by COVID-19.
This includes a package of measures to support businesses including:
- a statutory sick pay relief package for SMEs
- a 12-month business rates holiday for all retail, hospitality and leisure 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 to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance
- the HMRC Time To Pay Scheme
For more information visit: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses.
The National Council for Voluntary Organisations (NCVO) has published practical support and advice for charities and voluntary organisations online:
https://www.ncvo.org.uk/practical-support/information/coronavirus?0=385520
https://blogs.ncvo.org.uk/2020/03/12/spring-budget-2020-things-to-welcome-but-questions-remain/
