Government support
The Government has outlined some financial support measures within their coronavirus business support package. The package includes:
- The Self-Employment Income Support Grant Extension is currently closed to applications. The fourth round of grants will be open to applications in late April and will cover the period of February 2021 to April 2021.
- The Coronavirus Job Retention (Furlough) Scheme allows eligible businesses to claim back some of your employee's wages if staff have been put on furlough or flexible furlough because of coronavirus. This scheme is open until 30 September 2021.
For more information on all the financial schemes and support made available by Government including, who is eligible and how to apply, visit the Government’s Financial Support for Business pages.
Local Restriction Grants for businesses
West Sussex businesses that have either been required to close or have not had to close but which have been impacted due to local or national restrictions may be eligible for financial support under the Local Resetrictions Grant or Additional Restrictions Grant.
- The Local Restrictions Support Grant (Closed Addendum) is for businesses that have been required to close due to the national lockdown (from 5th January 2021).
- The Local Restrictions Support Grant (for open businesses) is for businesses that remain open but who have been severely impacted due to local tier restrictions.
- The Local Restrictions Support Grant (for closed businesses) is for businesses that have been required to close due to local tier restrictions.
- The Additional Restrictions Grant is for businesses who have been impacted financially by the pandemic, but have not been covered by other grant schemes.
- The Closed Business Lockdown Payment is a one-off payment for businesses mandated to close due to National Lockdown restrictions.
Coronavirus Restart Grant
The Coronavirus Restart Grant scheme supports businesses in the non-essential retail, hospitality, leisure, personal care and accommodation sectors with a one-off grant, to reopen safely as Covid-19 restrictions are lifted.
- Eligible businesses in the non-essential retail sector may be entitled to a one-off cash grant of up to £6,000 from their local council.
- Eligible businesses in the hospitality, accommodation, leisure, personal care and gym sectors may be entitled to a one-off cash grant of up to £18,000 from their local council.
The Local Restriction Grants schemes and the Coronavirus Restart Grants are being adminstrated through the district & borough councils. More information will be available on your local council's website:
Kickstart Scheme
The Kickstart Scheme is a £2 billion fund designed to create high quality, 6-month work placements for young people aged 16-24, who are claiming universal credit. The Government will fund 100% of the relevant National Minimum Wage for 25 hours per week, plus associated employer National Insurance contributions and employer minimum automatic enrollment contributions for 6 months. £1,500 is also available per placement to support and train the young person.
This scheme is open to any organisation or business operating in any sector. The Sussex Chamber of Commerce are acting as an intermediary or "gateway" organisation to co-ordinate job placemnets and funding for local businesses and organisations.
Financial support and grants are also being provided for individuals, businesses and employers in particular sectors:
The Creative Industries Federation has announced a partnership with Crowdfunder's Pay It Forward scheme. The scheme provides an online platform to enable creative businesses and individuals to pre-sell tickets, products, bookings and services now, to be redeemed later.
Let's Do Business Finance are an accredited delivery partner of the Coronavirus Business Interruption Loan Scheme delivered by British Business Bank to support businesses through the pandemic. Loan amounts are up to £150,000 and businesses must be based in Sussex, Surrey, Kent, Hampshire, Essex, Suffolk, Norfolk, Cambridgeshire or Hertfordshire. This scheme ends of 31 March 2021.
