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Coronavirus: 5 steps businesses can take today

31 March 2020

If your business is dealing with the unprecedented challenges of Coronavirus, there is a range of government support and advice to help you through.

Here are 5 key steps you can take today:

1. Get help with your finances

For small and medium sized businesses, the new Coronavirus Business Interruption Loan Scheme is now available for applications. For more information and how to apply, visit this website.

You can also speak to your bank or lender to discuss options.

The Bank of England’s new lending facility for larger firms is also open for applications. Find out more on their website.

2. See what you're entitled to

The government is also making cash grants and additional funding available to certain sectors and smaller businesses.

Find out more about the schemes available, whether you’re eligible and how to apply on this website.

3. Support your staff

Through the Coronavirus Job Retention Scheme, the Government will pay salaries (at 80% of current pay up to £2,500 a month) for workers who are no longer working and would otherwise be made redundant.

For businesses with fewer than 250 employees, the cost of providing 2 weeks of COVID-19 related statutory sick pay per employee will be refunded by the Government in full. Find out more here: website.

You will also find messaging in this toolkit that can be used in your internal staff communications.

4. Check guidance on tax

If you are concerned about paying your tax you can talk to HMRC about managing payments.

The government has already postponed upcoming VAT payments through to June, cancelled business rates for many sectors and delayed July’s self-assessment tax payments until January 2021. To find out more visit our website.

5. Follow the latest advice

The government website is updated regularly as more information becomes available.

The Prime Minister’s daily press conference, live streamed on the @10DowningStreet Twitter feed, also provides the latest updates on health advice, support for businesses and employees, as well as a range of other issues.

 
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