Helping businesses make the right decisions in terms of government support available is going to be key in the next few weeks after government rolled out a series of grants, loan options and wage subsidy for businesses large and small.
In North East Lincolnshire, a new single point of contact has been launched, led by E-Factor, working with the Investment Hub and the council.
If you’re not sure what to do in these uncertain times, just email businesssupport@e-factor.co.uk to arrange a call back from one of the advisors. Someone will call you back to discuss your queries, and make sure you find the information and support you need to make the decisions that are best for your business.
Mark Webb, Managing Director at E-Factor Ltd, said: “As a not for Private profit business support organisation, we are passionate about making sure our experienced advisors continue to offer sound and objective support to the thousands of local businesses and entrepreneurs at this time. By working with our key partner agencies, we will make sure that local businesses are given meaningful and informed support and guidance that is relevant to their business and the challenges they are facing. We are determined to help our business community survive and grow again beyond this current crisis.”
Cllr Philip Jackson, leader of North East Lincolnshire Council, said: “As well as the direct support, there’s lots of other information for businesses available locally and through government. It’s important that we keep our local businesses up to date with information, to allow them to make the decisions that are right for them.”
Additionally, other key measures for businesses announced by government so far include:
- Business rate relief: 100% for all businesses in the retail, hospitality and leisure sectors for 2020/21 and 100% Business rate relief for all non-Local Authority child care providers for 2020/21. https://www.gov.uk/government/publications/business-rates-retail-discount-guidance
- Small business support grants of up to £25,000 for businesses in the retail, hospitality and leisure sectors with rateable values between £15,000 and £51,000. Grants of £10,000 for all businesses in receipt of Small Business rate relief or Rural Rate relief. www.nelincs.gov.uk/business-support
- Self Employed Scheme: will pay 80% of average profits from the last three years, capped at £2500 a month, initially for three months bit.ly/selfemployedsupport
- Job Retention Scheme: all UK employers will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. bit.ly/2wJrnJ9
- Guaranteed loan scheme: for businesses to access to help with immediate business costs.
- COVID-19 Corporate Financing Facility: available through banks and lenders
- Full list of support from government and advice to businesses including information about the wage subsidy https://www.businesssupport.gov.uk/coronavirus-business-support/
Whatever the challenge you are facing, you are part of our business community and E-Factor’s support is available to you. Email businesssupport@e-factor.co.uk anytime and they will contact you as soon as possible.