UK Government announces enhanced support for businesses
Friday April 4th
The Government has taken further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses and announcing a new scheme for larger companies.
Extended Coronavirus Business Interruption Loan Scheme (CBILS)
The Government has extended the CBILS so that all viable small businesses affected by COVID-19, and not just those unable to secure regular commercial financing, will now be eligible should they need finance to keep operating during this difficult time.
The government is also stopping lenders from requesting personal guarantees for loans under £250,000 and making operational changes to speed up lending approvals. The government will continue to cover the first twelve months of interest and fees.
Please find further details here: https://bit.ly/UpdatedCBILS
New Coronavirus Large Business Interruption Loan Scheme (CLBILS)
The new CLBILS will ensure that more firms are able to benefit from government-backed support during this difficult time. It will provide a government guarantee of 80% to enable banks to make loans of up to £25 million to firms with an annual turnover of between £45 million and £500 million.
Loans backed by a guarantee under CLBILS will be offered at commercial rates of interest and further details of the scheme will be announced later this month.
Please find initial details here: https://bit.ly/NewCLBIL
Thursday April 2nd
In order to maintain essential services while we operate on a skeleton staff we are making some changes to how we work, please distribute this information to your staff as required.
- Bins will still be emptied daily as required, however in order to comply with social distancing guidelines and to accommodate our reduced staff levels, we ask that all tenants leave their bin outside of their unit door if you want it emptied. The bin compound can be opened up by arrangement for your disposal of any other waste.
- As we are only now working during our office hours (08.30 to 17.00 hours), essential cleaning of the facilities will be taking place during the day, appropriate signage will be displayed whilst this is being carried out.
- Statutory and Emergency maintenance will still be carried out and our out of hours emergency number will still be manned, please report any maintenance issues to reception or email any urgent maintenance issues to email@example.com. Or call 07947 874334 outside of our office hours only.
- In order to maintain site security all buildings are operating as in our out of hours procedure from an access point of view at all times, please restrict your entry and exit from the buildings to the main OOH door wherever possible, or the revolving door for reception at Wilthorpe. If you plan to leave the building after 17.00 hours please ensure you lock the building behind you.
We will review these procedures regularly and inform you of any changes as soon as possible.
We’ve just updated our COVID-19 resource centre, find out more here
Thursday 2nd April
Click here for the latest updated guidance from UK Government about COVID-19
Wednesday April 1st
COVID-19 (coronavirus) advice and guidance from BMBC
Tuesday March 31st
During these difficult times, many residents are unfortunately facing uncertainty about their current and future employment. To address this and to support residents, the employment and skills team at Barnsley Council have developed a simple, single point of contact to make it easier to speak to someone and access the free support available to residents who may have been:
- Laid off/unemployed
- Are at risk of redundancy
- Looking to develop or grow skills
Barnsley Council’s Employment and Skills service has joined forces with Enterprising Barnsley and other employment support providers to make it easier for residents to access employment and skills support. They have launched the Barnsley Employment Helpdesk providing a simple single point of contact for all residents who would like to speak to someone and access support. We aim to respond to enquiries on the same day with a referral to support within 24 hours.
- Support can be accessed through the website and its webchat function: https://www.enterprisingbarnsley.co.uk/support-for-employment/
- Or, directly through their email address: firstname.lastname@example.org
They’re on the end of a phone and can provide advice to determine eligibility for Universal Credit and how to start and prepare claims; job searching, getting a CV ready, support with applications and interviews and access to free training if residents want to develop your skills for a new role or promotion.
Please help them raise awareness of this support across your networks, they are ready to receive referrals. Just make sure people are happy for you to share their contact details and email them through or direct people to them on the details above.
They are currently working on getting a dedicated contact phone number and unfortunately in the meantime are only able to receive enquiries through the email or webchat. However, if individuals are not able to access email or webchat, if they can ask a friend, neighbour or professional to email them their phone number they will phone them straight back.
Partners include: Barnsley Council Adult and Community Learning, Enterprising Barnsley, The Growth Company & Wiseability, The Coalfields Regeneration Trust, The Citizen’s Advice Service
For further information about Barnsley Council’s response to Covid-19, visit: barnsley.gov.uk/services/health-and-wellbeing/covid-19-coronavirus-advice-and-guidance/
Updated Coronavirus Job Retention Scheme guidance
Friday March 27th
The Treasury have today updated their Coronavirus Job Retention Scheme guidance with specific reference to National Insurance and pension contributions for furloughed workers. Please see link below:
What exactly is Furlough?
In addition to the above guidance, Business Village tenant Kat Derbyshire from Black Kat HR is offering a support package on all matters related to furlough, a term many had not heard of until now.
For anyone wondering what it is, it is temporary leave for employees put in place as a result of issues an employer faces within their business or challenges in the economy.
If as an employer you are considering furloughing your employees there are a number of considerations to be made. Employment law still applies when using this so you must be sure that using furlough is appropriate and implemented correctly. On that basis Kat highly recommends that you seek advice before taking action.
Black Kat is offering a support package for business owners consisting of a consultation phone call (via Zoom if you prefer) to talk through your circumstances, whether furlough is appropriate, any other options that may be available to you followed by providing written correspondence you can issue to your employees explaining any actions you intend to take.
To receive further information and book a slot please get in touch by sending over an email to email@example.com or visiting the website and Kat will get back to you with further details.
#furlough #hr #businessowner #layoff
Self-employment Income Support Scheme:
Thursday March 26th
Following the Chancellor’s announcement regarding support for those that are self-employed, we wanted to make sure you have access to the details of the support scheme. Please see below:
Self-employment Income Support Scheme: bit.ly/SelfEmployedSupport
In addition, they have pulled together FAQs relating to the scheme, which can be found here:
CORONAVIRUS BUSINESS SUPPORT
Wednesday March 25th
The UK Government has launched a new website that helps businesses find out how to access the support that has been made available, who is eligible, when the schemes open and how to apply. The site helps businesses find out how to access the support that has been made available, who is eligible, when the schemes open and how to apply.
You can view the site here
Reception/cleaning services resume basic operation at The Business Village.
To assist tenant key workers across both our locations we are resuming basic reception and cleaning services from 08.30 hours tomorrow (Wednesday 25th March 2020).
- Reception will be open only to deal with postal and parcel deliveries, collections and enquiries.
- Reception will not be open to accept visitors or offer any other central services at this time.
- The Bistro remains closed.
As this is a rapidly developing situation we will endeavour to keep you updated of any changes to our services, please keep an eye on this website for our most up to date information.
See here for the very latest guidance on Coronavirus (COVID-19): What you need to do
The government has updated the guidance on the new measures the PM introduced on Monday 23rd March:
- Requiring people to stay at home, except for very limited purposes;
- Closing non-essential shops and community spaces; and
- Stopping all gatherings of more than two people in public.
The link below provides full details on the new guidance. Please share as far and wide through your networks as possible – on your websites/ information hubs, directly to your business clients, through your supply chain, to employees and to customers.
Grant payments to small businesses
- Small businesses which are in receipt of Small Business Rates Relief (SBRR) and Rural Rates Relief (RRR) on their property are eligible to receive a one-off grant of £10,000 to help meet ongoing business costs. If you would like to claim this grant, Barnsley Council needs your bank account details so please fill in this ‘Online contact form.’Please note, this is our existing standard refunds form but please be assured this is for the form you need to apply for this grant.
Please select ‘Business Rates’ in the refund option and put ‘10000’ in the refund amount.If you don’t know your business rates account number, you should insert ‘TBC’ in the relevant field and ‘1’ as the last payment.There’s a free text box on the last page where you can add notes if you need to.
Don’t forget to provide an email address and contact telephone number.
Barnsley Council’s finance team will review all forms received and arrange for grant payments to be made directly into the verified business accounts provided. This should take just a few days, once you receive your confirmation email.
If you are struggling to pay your business rates due to the impact the coronavirus is having on your business please contact the Council’s Income & Collections Team on 01226 787787 and select Option 2. An adviser will take your details and arrange for a call back from a business rates manager who can discuss with you any possible support that may be available.
If you require further advice please get in touch with us on the contact details at the bottom of the page.
Coronavirus Business Interruption Loan Scheme (CBILS) opens for applications!
We can confirm that the Coronavirus Business Interruption Loan Scheme (CBILS) opened for applications on Monday 23rd March and supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities and can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
The CBILS website is the best source of up to date information but for your ease of reference please download the documents below which contain all the key details:
CBILS: KEY FEATURES
- Up to £5m facility:
The maximum value of a facility provided under the scheme will be £5m, available on repayment terms of up to six years.
- 80% guarantee:
The scheme provides the lender with a government-backed, partial guarantee (80%) against the outstanding facility balance, subject to an overall cap per lender.
- No guarantee fee for SMEs to access the scheme:
No fee for smaller businesses. Lenders will pay a fee to access the scheme.
- Interest and fees paid by Government for 12 months:
The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments.
- Finance terms:
Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years.
At the discretion of the lender, the scheme may be used for unsecured lending for facilities of £250,000 and under. For facilities above £250,000, the lender must establish a lack or absence of security prior to businesses using CBILS. If the lender can offer finance on normal commercial terms without the need to make use of the scheme, they will do so.
- The borrower always remains 100% liable for the debt.
There is a lot of information and we would encourage you to please take the time to review the documents above and also visit the website to make yourself familiar with the details. Please note that any queries by SMEs in relation to their specific circumstances must be directed to their lender or one of the accredited CBILS lenders and not to the BBB.
Keeping The Business Village ticking over
We’ve activated our contingency plan (innovatively known as “Plan B”) to make sure both our locations continue to function just as normal as possible. Those of us who are able to work from home will do so … This doesn’t mean any change in what you will see going on in and around The Business Village, it simply means we’re changing how we work together internally.
In short that means we’re here, the same as we always are.
It’s pretty obvious that we’re about to enter a pretty tough time in business in the UK for the next month or two, but we’re still here for you when and if you need us. On that note we would like to say a very big thank you to all of our tenants (and friends) who have kept our Reception teams updated on whether staff are in their units or working from home.
- As part of the extensive business support programme offered across the Barnsley borough, we’re able to share a link with you to the constantly updating page from our friends and colleagues and friends at Enterprising Barnsley. Click here for the very latest news, help and advice for your business.
If you want to chat through anything at all, please contact us. You can find all our details here.
Please look after yourself at work and in your homes and stay safe…
Adrian, Jonathan, Kevin and Lyndsey.
Contact us to find out more
Business Development Manager