Coronavirus Covid 19 Support For Businesses
Burnley Borough Council is linking in with central government and businesses to help you and your business make it through the pandemic.
If you run a Business in Burnley; below is the support that is available to help you through the current situation.
For the most up to date information on the financial support offered by the government please visit: Financial support for businesses during coronavirus (COVID-19) on the main government website
This includes information on the Restart Grant, Self Employment income Support Scheme and others included below.
The Recovery Loan Scheme
The Recovery Loan Scheme supports access to finance for UK businesses as they grow and recover from the disruption of the COVID-19 pandemic. The Recovery Loan Scheme is to help businesses of any size access loans and other kinds of finance so they can recover after the pandemic and transition period.
Up to £10 million is available per business. The actual amount offered and the terms are at the discretion of participating lenders.
The government guarantees 80% of the finance to the lender. As the borrower, you are always 100% liable for the debt.
The scheme is open until 31 December 2021, subject to review.
Loans are available through a network of accredited lenders, listed on the British Business Bank’s website
The Restart Grant
The Restart Grant scheme supports businesses in the non-essential retail, hospitality, leisure, personal care and accommodation sectors with a one-off grant, to reopen safely as COVID-19 restrictions. The Restart Grant scheme supports businesses in reopening safely as COVID-19 restrictions are lifted. Grants are available from 1 April 2021.
Eligible businesses in the non-essential retail sector may be entitled to a one-off cash grant of up to £6,000 from their local council.
Eligible businesses in the hospitality, accommodation, leisure, personal care and gym sectors may be entitled to a one-off cash grant of up to £18,000 from their local council.
Coronavirus Job Retention Scheme
If you cannot maintain your workforce because your operations have been affected by coronavirus (COVID-19), you can furlough employees and apply for a grant to cover a portion of their usual monthly wage costs where you record them as being on furlough.
It was announced on 3 March 2021 that the Government's Coronavirus Job Retention Scheme will be extended until the end of September 2021.
Self-Employed Income Support Scheme (SEISS)
If you're self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19) you may be eligible for the Coronavirus Self Employed Income Support Scheme (SEISS).
It was announced on 3 March 2021 that the Coronavirus Self Employed Income Support Scheme (SEISS) will be extended until July 2020 with fourth and fifth grants being made available.
The fourth covers the three-month period from the start of February until the end of April. As with previous SEISS grants, it is worth up to 80% of trading profits, averaged over three months, up to £7,500 in total. The fifth grant covers early May to late July, but the amount available depends on loss of income.
The Kickstart Scheme provides funding to create new job placements for 16 to 24 year olds on Universal Credit who are at risk of long term unemployment. Employers of all sizes can apply for funding which covers:
• associated employer National Insurance contributions
• employer minimum automatic enrolment contributions
Employers can spread the start date of the job placements up until the end of December 2021.
Local financial support: Rosebud Rebound Fund
Following the impact of Coronavirus the traditional Rosebud Fund has been renewed to support Lancashire businesses when they need it most. Making sure that every business has access to the capital it needs regardless of the economic conditions.
With loans available from £10,000 to £300,000 and complimentary business support available
For more information and to apply visit rosebudfinanace.co.uk
Boost is Lancashire’s Business Growth Hub. Working with business owners and decision makers to help them improve, develop and grow their business. Providing a range of funded business support programmes in addition to a dedicated service that helps you navigate the local, regional and national business support landscape to find the right support for your business.
Contact - firstname.lastname@example.org for more information
Lancashire Skills and Employment Hub
Supporting the Lancashire Skills and Employment Advisory Panel with responsibility for skills and employment priorities in Lancashire, and are part of the Lancashire Enterprise Partnership (LEP).
Focussing on creating the right conditions for a balanced, skilled and inclusive labour market to underpin economic well-being, productivity and growth across the LEP area. Working with a wide range of partners to deliver our priorities which fit into the following four strategic themes, Future Workforce, Inclusive Workforce, Skilled and Productive Workforce and an Informed Approach.
Contact Lancashire Skills Hub for more information