Monday, 24 February 2020
Coronavirus: Advice and Information
We want to reassure our members that the Chamber is open for business to offer support with whatever is needed at this time of challenge for the East Midlands.
The government’s Self-Employment Income Support Scheme will be extended, giving more security to individuals whose livelihoods are adversely affected by coronavirus in the coming months, the Chancellor announced.
Future Fund open for applications from 20 May - The Future Fund issues convertible loans to innovative UK companies with good potential, that typically rely on equity investment and are currently affected by Covid-19.
Government to support businesses through Trade Credit Insurance guarantee - Businesses with supply chains which rely on Trade Credit Insurance and who are experiencing difficulties maintaining cover due to Coronavirus will get support from the Government.
More information about the The Bounce Back Loan Scheme (BBLS) - a new scheme designed to enable businesses to access finance more quickly
Updated information on the Coronavirus Job Retention Scheme - Guidance for employers on the coronavirus (COVID-19) Job Retention Scheme.
HM Treasury has created a factsheet on how to access government financial support if you or your business has been affected by COVID-19
The Chamber would urge businesses to plan in the same manner they would for any uncertainty – much in the same way businesses have safeguarded themselves as much as possible against unknowns relating to Brexit.
This could take the form of a risk assessment – identifying all supply chain elements and operational activity and making contingency plans where possible to safeguard against disruption.
Taking the opportunity to evaluate potential cash flow pressures in the event of disruption is also prudent to mitigate against an uncertain trading period.
Business Grants via local authorities are now available for a number of businesses to benefit from. We’re aware that individual authorities have different approaches to managing this and we’re talking to them to ensure there are no unnecessary delays.
Further detail on Small Business Grant Funding, Business Rate holidays where applicable, along with other support options available, can be found here: https://www.businesssupport.gov.uk/coronavirus-business-support/
We have put together some template documents to help organisations in their planning for any disruptions that Coronavirus may cause. The templates are fully editable for your organisation.
New: Dormancy checklist for insurance purposes for businesses which will be operating remotely. Courtesy of Aston Lark
Key members of the Geldards’ team have produced guidance covering important issues and legal advice relevant to the core areas of employment, commercial contracts, property and tax relief and lending.
The Chartered Institute for Personnel and Development has produced a fact sheet, which sets out how employers should respond to the threat from Coronavirus.
The Department for Transport and Public Health England have produced specific guidance for the transport sector here.
The NHS has a concise guide to Coronavirus setting out how it is spread, how to avoid catching it, symptoms, treatment and what to do if you think you or any of your employees might be infected. Details here.
Taking care of your mental wellbeing is of particular importance during times when you can be worried and social interaction is limited. The Mental Health Foundation has put together a guide for looking after your mental health during the cornavirus outbreak.
We also want to draw your attention to some services offered through your membership which may be useful during this time.Back