Lockdown 3: What Support is Available for Businesses?

Following the latest announcements from Boris Johnson and Nicola Sturgeon, England and Scotland have now joined Wales in new national lockdowns.

The new restrictions mean that people should only leave home for an essential purpose, such as to buy food or medicine. This means that, along with schools, large swathes of businesses now need to close their doors.

While some shops and hospitality businesses will still be able to offer click and collect and takeaway services, they are likely to see a dip in sales. Many other businesses may also see their revenue fall as demand dries up, similar to the first lockdown in March 2020.

To help support businesses through his latest period of uncertainty, the Chancellor Rishi Sunak has announced some additional funding alongside some older schemes that are still open to businesses.

Does my business qualify for coronavirus support?

Does my business qualify for coronavirus support?

Disruption caused by the Covid-19 outbreak is causing havoc for businesses up and down the country.

To help them through this difficult time, the government has announced a broad package of support for companies. But the quick-fire announcements have caused some confusion in the business community.

Chancellor Revamps Coronavirus Loan Scheme

A loan scheme for small and medium sized firms impacted by coronavirus has been overhauled, making it easier for affected businesses to access funds.

The Chancellor has announced the extension of the Coronavirus Business Interruption Loan Scheme to all viable small businesses affected by the pandemic.

In a statement, the government said the move is intended to maximise the support available, promising that all small businesses will be eligible for a loan, should they need finance to keep operating during this difficult time.