All your COVID-19 essential updates in one place here – let’s get you back to business
Please Note: All information correct at time of writing on 1 April 2020. We do our very best to make sure our information is as up to date as possible, but we’d encourage you to check out our latest articles and to check the government website for updates as they happen.
This evening’s (1 April 2020) press briefing was held by the Business Secretary Alok Sharma. He was accompanied by Dr Yvonne Doyle, Public Health England’s Medical Director.
In the hours prior to the briefing, the press had focused on reporting the prediction of the potential collapse of around 800,000 small businesses within weeks if they were unable to access promised government funding support.
Mr Sharma reassured businesses that this was a priority for the government, they had listened to their concerns and would be taking action which would be outlined by the Chancellor “over the next few days “.
During the briefing he covered the following:
In the Q&A session, there was a continued focus on testing and PPE.
It will be interesting to see what further announcements will be forthcoming from the Chancellor over the next few days. The strategy so far seems to be calling upon the better nature of banks yet some of the barriers to funding still seem to be as present as ever. These include:
The business rates grant information was interesting. When this was launched, government guidance was that businesses did not need to apply for this as local authorities would be writing to all eligible businesses. Interestingly, it’s been reported several local authorities have now put up links to apply for these grants on their websites.
We would strongly advise clients not to wait to be notified of this but check their local authority website to see if they can apply online and if not call their local authority to check eligibility and timescales for payment
We understand that the fast-moving and ever-changing nature of the coronavirus measures are confusing and can cause business owners lots of worries. The government has indicated that it will continue to roll out measures to support business and we will keep everyone updated as and when these developments are announced.
If you’re a Citation client and you’ve got questions about any of the financial measures listed above, you can call us on our advice line on 0345 844 4848.
If you’re not yet a client of ours, give our friendly team a call on 0345 844 1111 to chat through your business needs. And if you think anyone in your network could benefit from this information, feel free to share it with them.
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