Financial support for businesses
The Chancellor recently announced a new wave of measures to financially support businesses impacted by Coronavirus (COVID-19). These include but are not limited to:
- Funds from central government to administer the grants and rate reliefs announced in the Chancellor’s budget and on the 17 March. You will be contacted in the next few days via a letter sent to your business premises to advise of the rate relief automatically awarded to you if you are considered eligible. In addition information will be provided in relation to the Grant available. The online version of the grant forms can be found below. Please check here that you are eligible before applying.
Small Business Grant Fund or Retail, Hospitality and Leisure Grant Fund form - Bournemouth returns area
Small Business Grant Fund or Retail, Hospitality and Leisure Grant Fund form - Christchurch and Poole returns area
- Retail, Leisure and Hospitality Rate Relief - Discount of 100% extended to all businesses in sector regardless of Rateable Value
- Coronavirus (COVID-19) Business Interruption Loan Scheme – will enable businesses to apply for a loan of up to £5 million, with the government covering up to 80% of any losses with no fees. Businesses can access the first 12 months of that finance interest free, as government will cover the first 12 months of interest payments.
- Sick Pay - For businesses with fewer than 250 employees, the cost of providing 14 days of Statutory Sick Pay per employee will be refunded by the government in full
- Tax - the HMRC Time To Pay Scheme to help with tax
To keep updated with the latest government announcements on business support throughout the Coronavirus (COVID-19) situation check the central government website or subscribe to receive their email alerts.
It is important to note that BCP Council is awaiting further guidance on the award mechanism of this financial support from central government.
As soon as this information is known, we will inform businesses via our business newsletter, on our @Business_BCP Twitter feed, the @BCPCouncil Twitter feed and on our website.
At this time, businesses do not need to take any further action. Funding for the Grant Scheme will be provided to local authorities by government in early April.
Further information and support for the local area can also be accessed through the Dorset Growth Hub, Dorset Chamber of Commerce and the Dorset LEP.
The government has a Business Support Helpline available on 0300 456 3565.