Covid Business News and Information from BCP Council

BCP Council are delivering local businesses with key support, news and information throughout Covid. Here is their latest advice (from 1 May 2020):

Don't miss out - Apply now to access your Business Grant

We’ve provided over £82m in additional rate relief and £60m in grant support to local businesses since the start of the lockdown, but there are still around 1,500 businesses on our records who have not yet applied for the grants.

You are eligible if you receive Small Business Rate Relief or Rural Rate Relief, or fall under the Expanded Retail Discount scheme with a property with a rateable value less than £51,000. The process for awarding grants is not automatic and to receive support, you must complete our online form. We also remind you that grant income is taxable.

We acknowledge that a number of businesses are not eligible as they are not the noted ratepayer at their premises such as in shared offices. We will continue to lobby government for additional support

Click here to check your eligibility and to apply.

Bounce back with new small business loan scheme 

A new Bounce Back Loans scheme will soon give you the option to borrow between £2,000 and £50,000 within a few days.

The Government will provide a 100% guarantee for the loan and pay any fees and interest for the first 12 months. No repayments will be due during the first 12 months. The loans will be easy to apply for, via a short online application. 

The scheme will launch for applications on Monday 4 May. Firms will be able to access these loans through a network of accredited lenders. The government will work with lenders to ensure loans delivered through this scheme are advanced as quickly as possible and agree a low standardised level of interest for the remaining period of the loan. 

Furlough and claiming back employee wages

If you have already made a claim: Payment takes six working days from when a claim is submitted. Please do not call HMRC to chase payment as they will not be able to update you before the six working days have ended. It will automatically be sent to the bank account you nominated in your claim. Please retain all records and calculations for your claims in case HMRC need to contact you about them in future.

If you have not yet made a claim: You can still claim online for a grant for 80% of your furloughed employees’ salaries, up to a maximum of £2,500 per employee, per month. You will receive the funds six working days after you claim, provided your claim matches records that they hold for your PAYE scheme.

Please continue to keep your furloughed employees informed and ask them not to contact HMRC directly – HMRC will not be able to provide them with any information.

New free online learning platform to boost workplace skills

A new online learning platform to help boost the nation’s skills while people are staying at home has been launched. Free courses are available through The Skills Toolkit. This will give you access to free, high-quality digital and numeracy courses to help build up your skills, progress in work and boost your job prospects.

Courses on offer cover a range of levels, from everyday maths and tools for using email and social media more effectively at work to more advanced training such as the fundamentals of digital marketing and data analysis. All courses are online and flexible, so people can work through them at their own pace.

Tune in to free Business Support Webinars

Different Government departments are hosting a series of free webinars to help businesses understand the support available to them. Upcoming webinars include:

• Tuesday 5 May - Financial support for small businesses during coronavirus (COVID-19)
• Wednesday 6 May - COVID-19: Impacts and changes to International Trade
• Thursday 7 May - Managing your business during coronavirus: reporting, regulations and tax
• Multiple dates - Coronavirus Job Retention Scheme – How to make a claim
• Multiple dates - Coronavirus COVID-19 Statutory Sick Pay Rebate Scheme

£6.1m funding boost for high streets and town centres 

The government announced this week that hundreds of Business Improvement Districts (BIDs) across England will share £6.1m of funding to spend on projects that will help their local economies through the uncertainty of the coronavirus (COVID-19) pandemic. 

We currently have three local BIDs, Poole BID, Bournemouth Town Centre BID and Bournemouth Coastal BID.

Keep updated with the latest local Covid support information via this email, on the @Business_BCP Twitter feed, the @BCPCouncil Twitter feed and on our website. The government has also set up a new business support website which clearly explains the support available