General business support
Coronavirus Business Interruption Loan Scheme
- The Coronavirus Business Interruption Loan Scheme offers finance to smaller businesses that are viable but unable to obtain finance due to insufficient security to meet the lender’s normal requirements
- Businesses with a turnover of no more than £41 million can apply for a loan of between £1,000 and £5 million, from a range of lenders.
- No interest is due on the loan for the first 12 months and there are no fees.
- Those interested, should talk to your bank or finance provider (not the British Business Bank) as soon as possible and discuss your business plan with them.
Time to Pay Service Hotline
If you cannot pay your tax bill on time due to the COVID-19, a new helpline (0800 015 9559) to the HMRC's Time to Pay service is open to defer payments.
COVID-19 Corporate Financing Facility
The Bank of England are buying short term debt from large companies through the Covid Corporate Financing Facility scheme.
- The Council is offering free well-being support for businesses and their employees, to tackle the mental health impact of COVID-19.
- Support will include: remote mental health management support (via phone, video calling, e-guides and tutorials; regular contact; in-work support).
- To access the service, contact the Counsellor / Progression Coach, Sonal Doshi, by phone at 0728 454 3020 or email at email@example.com
If you are a commercial tenant in a property owned by the London Borough of Barnet, you may be able to request a rent-free period. You can request an application form by emailing the Council’s Estates team at Estates.BusinessSupport@barnet.gov.uk
Find support for businesses that trade internationally
Pubs and restaurants can operate as hot food takeaways
- The government has granted pubs and restaurants permission to operate as takeaways as part of the coronavirus response.
- However, unless already licensed to do so, your business will not be allowed to serve alcohol off-premises and will need to maintain your current hours of operation.
- Find out more about operating as a takeaway
Support for employers
Coronavirus Job Retention Scheme
All UK employers can access support through the Coronavirus Job Retention Scheme
Statutory Sick Pay Support Rebate
- All UK employers will be able to access support to Statutory Sick Pay will be available to all who are advised to self-isolate from COVID-19 or are caring for someone else who has, provided the employees earnings are over £118/week.
- Rules around GP sick notes have also been relaxed, and a notification can be obtained from NHS 111 Online.
- Statutory Sick Pay will be paid from day one instead of day four and government intend to legislate so this measure applies retrospectively from 13 March 2020.
- The government will refund the cost of Statutory Sick Pay for up to 14 days to small and medium-sized businesses.
- Find out more about Statutory Sick Pay
Increased Employment Allowance
- Employment allowance to increase by £1,000 allowing certain businesses who employ staff to reduce their National Insurance bill by £4,000.
ACAS advice for businesses
- The Advisory Conciliation and Arbitration Service (ACAS) has advice for businesses on dealing with a range of employment issues including staff absence, homeworking, staff presenting symptoms, closing premises and staff lay-offs.
London-wide support and information
West London Business helpline
West London Business is providing a COVID-19 website where you can find answers to your queries or speak with an advisor using a dedicated helpline for business.
London Growth hub
The London Growth Hub has also setup a dedicated COVID-19 site , where you can find fact sheets, a business checklist and access free one-to-one support.