Covid-19

For the latest Government advice, please follow these links:


D2N2 Covid-19 Survey

By completing our survey you will help us to understand the needs of our local businesses during the Coronavirus pandemic. Importantly, your responses will help to shape what support we can offer to businesses when the recovery phase begins. Your time for completing the survey is very much appreciated.

Please Complete Our D2N2 Covid-19 Survey

 

The D2N2 Growth Hub will continue to review and update this page with the most relevant links and information available for financial support and advice for businesses. If you haven't already done so, please Subscribe to our Newsletter for weekly updates.

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by Covid-19. Her Majesty's Treasury has produced this fact sheet to help you access Government financial support, including for the self-employed and business support.
 

  1. Bounce Back Loans Scheme

  2. Self-Employment Income Support Scheme

  3. Coronavirus Job Retention Scheme

  4. Reopening High Streets Safely Fund

  5. Business Rate Relief

  6. Top-up Local Business Grants Scheme

  7. Local Authorities

  8. Redeployment Triage Service

  9. Coronavirus Business Interruption Loan Scheme (CBILS)

  10. The Future Fund

  11. Universal Credit

  12. Building Business Resilience

  13. Further Advice

  14. Ways that Businesses Can Help

  15. Growth Hub Webinar Events

 

Bounce Back Loans Scheme

The Bounce Back Loans Scheme opened for applications on 4th May. Delivered by lenders accredited by the British Business Bank, Bounce Back Loans target small and micro businesses in all sectors, providing loans from £2k up to 25% of the business’ turnover with a maximum loan of £50k.

The Bounce Back Loans Scheme enables businesses to obtain a six-year term loan at a government set interest rate of 2.5% per year. The government will cover interest payable in the first year.

  • Up to £50,000 Loan: Loans will be from £2,000 up to 25% of a business’ turnover or £50,000, whichever is lower.

  • 100% Guarantee: The scheme provides the lender with a government-backed, full guarantee (100%) against the outstanding facility balance, both capital and interest. The borrower always remains 100% liable for the debt.

  • Interest Rate: The government has set the interest rate for this facility at 2.5% per annum, meaning businesses will all benefit from the same, low rate of interest.

  • Interest Paid by Government for 12 months: The government will make a Business Interruption Payment to the lenders to cover the first 12 months of interest payable, so businesses will benefit from no upfront costs.

  • No Principal Repayments for first 12 months: Borrowers will not have to begin principal repayments for the first 12 months, thereafter capital will be repaid on a straight line basis.

  • No Guarantee fee for Businesses or Lenders to Access the Scheme

  • Finance Terms: The length of the loan is for six years but early repayment are allowed, without early repayment fees.

  • No Personal Guarantees: No personal guarantees are allowed, and no recovery action can be taken over a principal private residence or principal private vehicle.

Any questions about the Bounce Back Loans Scheme should be directed to the accredited lenders, not the British Business Bank.

Factsheet for SMEs

Bounce Back Loans Scheme Accredited Lenders

For more Information on the scheme, click here
 


Self-Employment Income Support Scheme

Claim a grant through the Coronavirus (COVID-19) Self-Employment Income Support Scheme (SEISS).

SEISS will support self-employed individuals (including members of partnerships) whose income has been negatively impacted by Covid-19. The scheme will provide a grant worth 80% of their monthly trading profits up to a cap of £2,500 per month. This will be paid out in a single installment covering 3 months, capped at £7,500 in total. Applicants should check their payment date by entering their UTR number online. Payments will be made to those who apply on time by the 25th May.

Check their FAQs page to answer any questions that you may have.

Further Information and How to Apply

 

Coronavirus Job Retention Scheme

The Coronavirus Job Retention Scheme is a temporary scheme open to all UK employers designed to support employers whose operations have been severley affected by Covid-19. The scheme will cover the period from 1st March to the end of October.

Click here to make a claim

Employers can use the portal to claim for 80% of furloughed employees (employees on a leave of absence) usual monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that wage. Employers can use this scheme any time during this period.

The scheme is open to all UK employers that had created and started a PAYE payroll scheme on or before 28th February 2020.

From the start of August, furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their furloughed staff. The employer payments will substitute the contribution the government is currently making, ensuring that staff continue to receive 80% of their salary, up to £2,500 a month.

Check the Coronavirus Job Retention Scheme FAQs here

Further Information and Eligibility Criteria 

Reopening High Streets Safely Fund

A new £50m fund for councils to support their local high streets get safely back to business has been announced by High Streets Minister Simon Clarke.

The Reopening High Streets Safely Fund will help councils in England introduce a range of safety measures in a move to get people back to work and customers back to the shops.

Find out more about Reopening High Streets Safely

 

Business Rate Relief

Contact your Local Authority for details of the Small Business Grants Fund (SBGF) and Retail, Hospitality and Leisure Grant Fund (RHLGF). Businesses can find Guidance for Businesses which is being updated regularly with the latest advice.

£20bn of business rates support and grant funding has been announced to help the most-affected firms manage their cashflow through this period, this includes:

  • 100% business rates holiday for 12 months for all retail, hospitality and leisure businesses in England.

  • Provision of £10,000 grants to small businesses who are eligible for Small Business Rate Relief.

  • Providing a further £25,000 of grants to retail, hospitality and leisure businesses operating from smaller premises, with a rateable value over £15,000 and below £51,000
  • If you have a property that has a rateable value of £15,000 and under, you may be eligible for a grant of £10,000

 

Top-up Local Business Grants Scheme

A discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme. This is additional funding beyond the Business Rates Relief Grants.

This additional fund is aimed at small businesses with ongoing fixed property-related costs and Government is asking local authorities to prioritise businesses in shared spaces, regular market traders, small charity properties that would meet the criteria for Small Business Rates Relief, and bed and breakfasts that pay council tax rather than business rates. Local authorities may choose to make payments to other businesses based on local economic need. The allocation of funding will be at the discretion of local authorities.

In order to qualify for the Top-Up scheme, businesses must be small, under 50 employees, and must also be able to demonstrate that they have seen a significant drop of income due to Coronavirus restriction measures.

There will be three levels of grant payments with the maximum available amount via the scheme limited to £25,000.

The second level of grant available is for £10,000 with local authorities having the discretion to make payments of any amount under £10,000.

Click here for more information on Top-up Local Business Grant Funds Scheme

 

Local Authorities

Local authorities have updated their websites with how they will deliver the scheme and grants available. Click on your local authority below to find out how they can help you, Business Rate Relief Grants and information on the Top-up to Local Business Grants Scheme.

Amber Valley Business Support           

 

Gedling Business Support

Gedling Discretionary Grants

 

Ashfield Business Support  

 

High Peak Business Support

 

Bassetlaw Business Support  

 

Mansfield Business Support

 

Bolsover Business Rates Grant

Bolsover Discretionary Grants

 

 

Newark and Sherwood Business Support

 

Broxtowe Business Support  

 

North East Derbyshire Business Support

North East Derbyshire Discretionary Grants

 

Chesterfield Business Support  

 

Nottingham City Business Support

 

Derby City Business Rate Grants

Derby City Discretionary Grants

 

 

Rushcliffe Business Support

Rushcliffe Discretionary Grants

 

Derbyshire Dales Business Support  

 

South Derbyshire Business Support

 

 

Erewash Business Support

Erewash Discretionary Grants

 

     

 

If you are unsure which local authority you are in, please click here.

 

Redeployment Triage Service

In response to the ongoing Coronavirus pandemic, D2N2 is working with partners to create the Redeployment Triage Service.

The Redeployment Triage Service, administered by Futures who are the National Careers Service provider for the East Midlands, will match those recently made redundant with new work in sectors experiencing a surge in employment demand such as food retail, care, and distribution.

The service also engages with employers needing to make redundancies to ensure a smooth transition for employees into new work.

This information is for all businesses and employers across Derbyshire and Nottinghamshire who are having to make changes to their workforce as a result of the Coronavirus pandemic.

Please follow the advice below to ensure we can support your employees and the labour market during this time.

Redundancy Information

If you have already made employees redundant or are about to make small numbers redundant (up to five), please refer those individuals for direct support to Futures, the National Careers Service provider for the East Midlands:

Email: nationalcareersservicencc@futuresforyou.com or call 0800 9179419

If you are planning to make larger-scale redundancies (five or more) additional support is also available for you as an employer and your employees.

In these circumstances, please use the same contact details above, but ensure your message includes:

  • Notification of redundancies at scale
  • Number and job roles affected
  • Last day of work for affected individuals (if known)

For general guidance and links to further information on redundancy for both employers and employees, you can read the DWP Factsheet on Redundancy

Recruitment Information

If you are seeking to fill urgent vacancies, short or long term, to meet changes to your business as a result of Covid-19, we can help connect you with immediately available individuals. Please register your vacancies with:

John Blankley
(Senior Employment Support Adviser at Futures)
hello@futuresforyou.com or 0800 0858520

Please have the following information available when registering your vacancies:

  • Nature of work
  • Number of vacancies (can be approximate)
  • Necessary or desirable skills requirement
  • Location of vacancies
  • Any current recruitment routes being used

 

Coronavirus Business Interruption Loan Scheme (CBILS)

  • The Business Interruption Loan Scheme is designed to support businesses that are viable but unable to obtain finance due to having insufficient security to meet the lender’s normal requirements. This will support businesses with a turnover of up to £45m

  • The scheme will be delivered through commercial lenders, backed by the Government-owned British Business Bank. There are 48 accredited lenders able to offer the scheme, including all major banks. The Scheme will support business loans and overdrafts of up to £5m in value by providing a guarantee to the lender. The Government will not charge businesses for this guarantee. The scheme will also cover asset finance and invoice finance.

  • In order to access the scheme, businesses should contact their finance provider, not the British Business Bank. This will help your finance provider to act quickly once the scheme has launched. If you have an existing loan with monthly repayments you may want to ask for a repayment holiday to help with cash flow.

  • The Coronavirus Large Business Interruption Loan Scheme (CLBILS) was announced by the Chancellor of the Exchequer on 16th April 2020. The new scheme provides finance to mid-sized and larger UK businesses with turnover above £45m (which is the upper limit for the existing smaller-business focused CBILS). CLBILS can help provide facilities of up to £25m for businesses with turnover from £45m up to £250m, and facilities of up to £50m for those businesses with a turnover of more than £250m who are suffering disruption to their cashflow due to lost or deferred revenues during the Covid-19 outbreak. For more detail please see the CLBILS Factsheet.

For more information on both CBILS and CLBILS, please click here: CBILS and CLBILS

The Future Fund

Announced on 20th April by the Chancellor of the Exchequer, will open for applications on Wednesday 20th May.

Supporting innovative UK businesses with good potential that are essential in ensuring the UK retains its world leading position in science, innovation and technology. These companies typically rely on equity investment and are currently affected by Covid-19.

Until now these companies have been unable to access other government business support programmes because they are either pre-revenue or pre-profit. The financing supports companies facing a significantly extended length of time between funding rounds, due to the impact of the current economic situation.

Developed by government and delivered by the British Business Bank, the Future Fund will help these companies through the current period of economic disruption and recovery, so they are able to continue their growth trajectory and reach their full economic potential. 

How it Works:

  • Open for applications 20th May.
  • Scheme operates on a commercial basis to deliver an initial commitment of £250m of new government funding.
  • Financing will be unlocked by additional third-party investment on a match funded basis.
  • Applications submitted via an online platform based on a set of standard terms and eligibility criteria.

Eligibility Criteria:

  • Companies must be UK-incorporated and if part of a corporate group, only the parent company is eligible.
  • Companies in receipt of the loans will be required to have previously raised at least £250k in equity investment from third party investors in the last five years.
  • Only eligible companies that can attract at least 50% of third-party investment will receive funding.
  • Companies cannot have any of their shares traded on a regulated market, multilateral trading facility or other listing venue.
  • The company must have been incorporated on or before 31st December 2019.
  • At least one of the following must be true for the company:
    • Half or more employees are UK based
    • Half or more revenues are from UK sales.

Visit The Future Fund Website for more information on eligibility and how to apply

Universal Credit

Universal Credit is available to individuals who do not meet the criteria of other available support and grants. To find out more information about Universal Credit and how to apply, please read: Understanding Universal Credit

There is also a How to Claim Universal Credit – Step by Step Guide which has information regarding eligibility, how to make your claim and how much you'll get.

 

Building Business Resilience

The Building Business Resilience Programme is a support package available to businesses across the East Midlands. The focus at the moment is very much on offering practical support and guidance around the Covid-19 Crisis.

Click here for further advice or to Book an Appointment

 

Further Advice

  • The Department for Business, Energy and Industrial Strategy has published a list of sector specific Coronavirus support. Read more here

  • There are now new measures to protect UK high street from aggressive rent collection and closure. Read more here

  • Guidance for employers with employees on furlough can be found here 

  • The NHS has a concise Guide to Coronavirus Covid-19, setting out how it's spread, how to avoid catching it, symptoms, treatment and what to do if you think you or any of your employees might have it.

  • The Chartered Institute for Personnel and Development has produced a fact sheet, which sets out how employers should respond to the threat from Coronavirus, Download Here

  • HMRC has launched a tax helpline to help businesses concerned about paying their tax due to coronavirus. Deferring VAT and Income Tax payments. More Information Here

  • Companies House are offering a 3 month extension period for all businesses to file thier accounts during Covid-19. More Information Here

  • Public Health England has two blogs on Coronavirus, FAQs about Coronavirus Covid-19 and What is Contact Tracing?

  • The National Council for Voluntary Organisations (NCVO) have guidance and support information for charities during the Covid-19 lockdown. More Information Here 

  • Mental Health Foundation have provided general support for looking after your mental health during the Covid-19 lockdown and outbreak. Read More Here

  • Information from gov.uk on extra protection for businesses with a ban evictions for commercial tenants who miss rent payments. Read More Here

  • Gov.uk have a new technology challenge to support people who are isolating. £500k of funding is available for tech companies who come up with digital support solutions for people who need to stay at home because of Coronavirus Covid-19. More Information Here

  • Sage are offering daily webinars and blog posts on the latest government schemes to tackle Coronavirus, offering advice on how small and medium sized businesses can act, and have created useful tools to explain what financial support businesses are eligible for in their Covid-19 Advice Hub, here.

 

Ways that Businesses Can Help

If your business is able to offer Coronavirus support or if you are interested in finding out ways that your business can help with the Covid-19 crisis, please use the following service on the Gov.uk website

UK registered businesses can apply for a share of up to £20m to respond to new and urgent needs in UK and global communities during and following the Covid-19 pandemic.
Apply here: Business-led Innovation in Response to Global Disruption

 

Growth Hub Webinar Events

We have now postponed all of our face to face Growth Hub events up until July 2020 under recent government advice. We will review this date on an ongoing basis.

We have a range of live webinars available for you to attend from the comfort of your own home. To book onto a webinar or to find out about hwat's available, Check our Events Page 

 

(Please Note: This webpage is constantly being reviewed and updated to reflect current government advice and guidelines. The D2N2 Growth Hub acts as a signposting service, for specific queries on processing of support please contact the provider.)

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