There is support available to help local businesses deal with the coronavirus crisis. Some details for how to apply are still to be announced so I will continue to seek clarification and update this page with specific details as soon as they are available.
The government’s response is a start but they need to do better than loans and there are still big gaps. I know many businesses continue to worry about how they will survive. If you have any concerns you would like me to raise in Parliament, please email me at email@example.com.
- The Coronavirus Business Interruption Loan Scheme will see the government guarantee 80% of a loan up to £5m with no interest due for 6 month. Further information is due to be available from 23rd March. For more details please see the British Business Bank and application advice.
- The Coronavirus Job Retention Scheme portal opened for applications on the 20th April. If you are an employer you need to apply using this link. If you’re an employee, you don’t have to do anything.
- 100% business rate relief this year for retail, hospitality and leisure businesses.
- For smaller businesses there are grants of £10,000 and £25,000 available. These are being administered by Lambeth Council. To apply please see the two forms on their website.
- For businesses with fewer than 250 employees, 14 days of sick pay per employee will be refunded by the government in full.
- For those who are ineligible for Statutory Sick Pay, such as the self-employed, there will be help to access benefits more quickly if they have to self-isolate.
- HMRC has launched a new telephone helpline to discuss how you can restructure tax payments due to coronavirus. You can contact them on 0800 0159 559 and there is an additional business support helpline on 0300 456 3565.
- The Government will also be providing income support to the self-employed, providing a direct cash grant of 80% of their profits, up to £2,500 per month. You can claim a grant for self-employment
For the most up-to-date information please see the relevant government advice:
- Self-employment and Universal Credit
- Employment and Support Allowance
- Coronavirus: What You Need To Do
- Government Business Support
Support for Streatham businesses
- Lambeth Council has launched their Local Economy Support Package. They will be publishing guidance on support for local business here and have a dedicated support line for local entrepreneurs: 020 7926 2344.
- Businesses based in London can contact the London Growth Hub for help.
If you think there’s some information that needs to be included on this page or wish to raise an individual case, please drop an email with some details to firstname.lastname@example.org.