The Chancellor recently announced a massive bailout package to support small businesses and people during these unprecedented times.  Everybody needs to keep their eyes and ears open as new announcements are being made virtually on a daily basis.

The package of measures to support business include the following:-

The links below provide an at a glance summary of the main proposals and the contents of guidance notes for Covid-19 support for businesses and Covid-19 guidance for employees.

  1. Coronavirus (Covid-19) Summary
  2. Covid-19 – Support for Business
  3. Covid-19 – Guidance for Employees

Obviously, we will do what we can to help during these difficult times and will provide the best advice we possibly can to each and every client.

As far as the business interruption loan scheme is concerned, we would recommend that you consider how much you are likely to need and over what period.  As a rule of thumb calculation, you might wish to add up your monthly overheads and multiply that by the number of months of business interruption (perhaps a minimum of 4) to arrive at the loan figure you are likely to need.  In the first instance, you need to contact your existing bankers. 

Once again, please rest assured that we will do what we can to help.

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