Covid-19 Business Support Information
The government has made special provision for the anticipated impacts of COVID-19 by funding a series of support measures. More information is available below.
Please follow us on Facebook and Twitter for advice and information about support as it becomes available.
Local Authority Discretionary Grant Fund
The window to submit an application for the Local
Authority Discretionary Grant Fund (LADGF) has now closed. The Local Authority
Discretionary Grant Fund was designed to support small businesses and charities
with high fixed property-related costs that could demonstrate a significant
fall in income as a result of the coronavirus outbreak. We are sorry to
inform that all funding allocated to Redcar & Cleveland Borough Council was
heavily subscribed and has now been fully distributed.
The Council’s Business Growth team are working hard to
assist businesses to access all support currently available. Further
information is available at www.BusinessRedcarCleveland.co.uk.
please contact the Business Growth team directly on Business@redcar-cleveland.gov.uk
Government COVID19 Business Grants - (this scheme closed on 28 August 2020)
The Council has contacted local businesses believed to be eligible for the Government's £10,000 Small Business Grant or up to £25,000 Retail, Hospitality and Leisure Grant.
Over 1900 local businesses and £20m+ has been paid.
Business rates relief
The Government has announced a Business Rates holiday in the tax year 2020-2021 for businesses in the Retail, Hospitality and Leisure sectors and for qualifying (children’s) Nursery businesses. The Council will soon be in contact with businesses affected. If you have any queries related to this please contact us on 01642 774774 or email firstname.lastname@example.org.
Support for businesses in the cultural sector
Arts Council England have released information on the emergency measures and funding they have put in place for organisations and individuals working in the cultural sector.
For more information about the emergency measures and the funds visit: https://www.artscouncil.org.uk/covid19
Heritage Emergency Fund
The Heritage Emergency Fund is accepting applications for funding from £3,000 to £50,000 until 30 June 2020. The Fund aims to safeguard heritage sites to ensure they are not lost to the public.
To apply for the Heritage Emergency Fund, you must be:
- a not-for-profit organisation
- a current or previous recipient of a grant directly from the Heritage Fund
- an owner, manager or representative of heritage, or be able to show you have delivered participatory heritage activity
For more information, click here Heritage Emergency Fund Application Information and to apply, please click here.
The National Lottery Community Fund
The National Lottery Community Fund are prioritising funding projects and organisations supporting communities through the COVID-19 pandemic.
The types of projects they will prioritise include:
- organisations supporting people who are at high risk from COVID-19
- organisations supporting communities most likely to face increased demand and challenges as a direct result of COVID-19
- organisations which connect communities and support communities to work together to respond to COVID-19.
You can apply for funding under or over £10,000. For more information and to apply, please click here.
Banks & finance
The ‘Coronavirus Business Interruption Loan Scheme’ (CBILS) has been introduced to help small and medium-sized businesses affected by coronavirus (COVID-19) to access loans, overdrafts, invoice finance and asset finance of between £25,000 and £5 million for up to 6 years backed by an 80% guarantee to lenders from the Government. The scheme is delivered through commercial lenders, backed by the government-owned British Business Bank.
For more information and to apply, click here.
Business Bounce Back Loan
A new scheme has been announced to help small and medium-sized businesses affected by coronavirus (COVID-19) to apply for loans of between £2,000 and £50,000 backed by a 100% Government guarantee to lenders and with no interest to pay for the first 12 months.
You can apply for this loan if your business is:
- is based in the UK
- has been negatively affected by coronavirus
- was not an ‘undertaking in difficulty’ on 31 December 2019
For further information, click here.
The Future Fund provides government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.
The scheme is open for applications until the end of September 2020.
Your business is eligible if:
- it is UK-incorporated – if your business is part of a corporate group, only the parent company is eligible
- it has raised at least £250,000 in equity investment from third-party investors in the last 5 years
- none of its shares are traded on a regulated market, multilateral trading facility or other listing venue
- it was incorporated on or before 31 December 2019
For more information, please click here. You can also check your eligibility for this fund by clicking here.
The Government has released official advice for businesses and employers in covering financial support and relief. For more information on the Coronavirus Job Retention Scheme, Self-employment Income Support Scheme and other support that you may be able to access, please visit the Business Support website set up by Government: Read more about COVID-19: support for businesses
Business support Funding
The Government have created an online tool to help you discover what support you and your business may be able to access during this time.
To access the support finder, please click here.
Self-employment Income Support Scheme online tool
HMRC have launched an online tool the public can use to find out if they’re eligible to make a claim through the Self-Employment Income Support Scheme.
The following are required to access the tool:
- Self-Assessment Unique Taxpayer Reference (UTR) number
- National Insurance number
To access the tool, please click here.
For more information and guidance on the Self-Employment Income Support Scheme, please click here.