As the end of April draws closer and the UK's lockdown is extended we want to remind you that we are here to help your business as best we can during these unprecedented times.
Our International Trade Advisers are still working around the clock to provide advice, guidance and resources to businesses in need. Please remember to contact your adviser if there is a particular issue you need support with by phoning 0333 320 0392 or emailing firstname.lastname@example.org.
Government Launches New Coronavirus Business Support Finder Tool
Last week the government launched a new ‘support finder’ tool to help businesses and self-employed people across the UK to quickly and easily determine what financial support is available to them during the coronavirus pandemic.
You can find the link here: www.gov.uk/business-coronavirus-support-finder
Exporters and the CBILS and CLBILS Support Schemes
Some exporters were being excluded from the Government’s Coronavirus Loans Scheme (CBILS) as their activities were not counted as “UK based business activity”. New guidance for the schemes has now been issued by the British Business Bank that make it clear that “Export businesses are in principle eligible and welcome into the scheme” and that exporting is “a UK trading activity even if the company’s income comes wholly or mainly from exporting”.
Northern Powerhouse Export Championn, Barry Leahey, Managing Director of Playdale Playgrounds Limited, explains how government support has boosted business confidence in this video.
Details of the support scheme can be found here: www.gov.uk/guidance/apply-for-the-coronavirus-business-interruption-loan-scheme
Expansion of Coronavirus Large Business Interruption Loan Scheme (CLBILS)
The Chancellor of the Exchequer, the Rt Hon Rishi Sunak MP, recently announced that the CLBILS has been expanded to include businesses with over £500 million in turnover. As such, all viable businesses with turnover of more than £45 million will be able to apply.
More information can be found here: www.gov.uk/government/news/chancellor-expands-loan-scheme-for-large-businesses
New 100% Government Backed Loan Scheme for Small Businesses
The new Bounce Back Loans scheme, will allow businesses to borrow between £2,000 and £50,000 and access the cash within days. Loans will be interest free for the first 12 months, and from Monday 4 May, businesses can apply online through a short and simple form.
Find out more here: www.gov.uk/government/news/small-businesses-boosted-by-bounce-back-loans
Latest Information and guidance from UK Export Finance (UKEF)
Keep up to date with the latest news, information and guidance from UKEF on their website.
Details for UKEF here: www.gov.uk/government/organisations/uk-export-finance
Remember, stay at home, protect our NHS, save lives.