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Useful Information for Businesses – Update 14th April 2020

Within this daily blog we aim to give you top-line, up-to-date information at a glance with links to relevant sites that explain in more detail relevant news, support, and financial help that we hope will make a difference to your business during the Covid19 Crisis and beyond:

Announced 9 April 2020

  • HMRC online system for making claims under the Coronavirus Job Retention Scheme will be launched on 20 April.  The system has been tested to handle up to 450,000 claims per hour and yesterday they began live testing with a small number of invited businesses. Employers can expect to receive their furlough grant within 4 to 6 days of submitting their claim and the first payments are due to come through by the end of April.
  • Letters to Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma have been sent by the retail and manufacturing sectors.  Latest guidance for dealing with coronavirus in these sectors are here
  • Charity Support package details have been published
    • £370 million will also be allocated for small and medium-sized charities, including through a grant to the National Lottery Community Fund for those in England. The application system for the National Lottery Community Fund grant pot is expected to be operational in the coming weeks. You can find more information here.
  • Supply chain support
    • The Chartered Institute of Transport (CILT) has set up a database for organisations in urgent need of supply chain resources
  • The UK Government is looking for businesses who can offer support in the multiple areas and has set up an online tool where businesses can register. To offer support click here. The support needed includes things like:
    • medical testing equipment
    • medical equipment design
    • protective equipment for healthcare workers, such as masks, gowns and sanitiser
    • hotel rooms
    • transport and logistics, for moving goods or people
    • manufacturing equipment
    • warehouse or office space, for medical use or storage
    • expertise or support on IT, manufacturing, construction, project management, procurement, engineering or communications
    • social care or childcare

GOVERNMENT COVID-19 FAQS

Frequently asked questions for businesses and employers, on business closures and stay at home, and on the self-employment income support scheme, are available on the business support website.

THE PRINCE’S TRUST ENTERPRISE RELIEF FUND

The Prince’s Trust and NatWest have launched £5 million grant fund for young entrepreneurs whose businesses have been affected by the coronavirus outbreak. The Enterprise Relief Fund aims to help 18-30-year olds keep their businesses afloat during the COVID-19 crisis.

Cash grants can be used to maintain core business operations during the crisis, as well as meet any existing financial commitments, such as paying for essential equipment or settling invoices from suppliers. Additionally, grants will support young people to diversify their business to respond to opportunities created by the crisis.

In conjunction with grants, the initiative will offer one-to-one support and guidance to anyone who needs it and who may be worried about their future.

To be eligible, businesses must have started up in the last four years and be run by someone aged 18 to 30. Young people who are in the process of starting a business and do not have any other source of income during the crisis are also eligible to apply for a grant.

Series of Webinars run by Champ Consultants (Accountants)  Including advice for small businesses and self employed persons, latest updates and Government help

White Label Webinar 8th April: Commercial Property and Security

Take part in the next White Label webinar scheduled to take place on Wednesday 15th April at 10am: Keep you and your workforce mentally and physically healthy

Thank you to White Label Creative who have been invaluable in passing on relevant information to us on a daily basis and, together with Champ Consultants who are an established, local accountancy company – we hope that in re-circulating the salient points, we can all work together to help as many businesses as possible.

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