YOUR DAILY BUSINESS GUIDE FOR A FAST-MOVING LANDSCAPE
Nothing will ever be the same again
We don’t need to tell you the impact COVID-19 is having on businesses and everyday life. And we know that you’re looking for calm & considered answers to a flurry of tricky questions.
Here’s the thing. Your business is our top priority. Like you, we’re navigating our way through unchartered waters. We don’t know all the answers. Nobody does. That’s why we’ve created this community for collaborative thinking between our people and our clients. The advice is top line, jargon-free and driven by business decisions that need to be made quickly, robustly and consistently. In a nutshell, we’re here to help. We have talented people who are interpreting the measures as they are announced and making them relevant to your business in the here and now.
What help is the government giving you so far?
We know how hard you’re working to keep your business going. But we also know that, for many, it won’t be easy. The government knows this too, and yesterday they announced the following help so far:
- Small and Medium sized businesses (SME’s) can reclaim up to two weeks’ SSP they pay to employees off work because of COVID-19.
- Those of you in the retail, hospitality and leisure industries won’t pay business rates for 2020/21.
- Grants of up to £25,000 are being given to companies operating from smaller premises.
- A new loan scheme is starting next week where SME businesses can apply for a loan of up to £5m. The government is guaranteeing 80% of each loan and covering the first six months of interest payments. There’s not a lot of detail on this yet but we’ll keep you updated when there is.
- HMRC also have a new dedicated support line. Call 0800 0159 559 if you need to speak to them about not meeting your tax bills (and need Time to Pay) due to COVID-19.
The legislation is expected tomorrow so we’ll have some more details then. In the meanwhile you can read more details here
What about the banks and other lenders ?
The government scheme will not be the answer to everything and it will take some time to become fully established. Our specialist Debt Advisory team have experience from the 2008 financial crisis and are in daily contact with lenders. We are getting a real insight into reactions and approaches from banks and lenders. We expect this to evolve quickly over the next few weeks and will share updates as we get more clarity. Get in touch.
Several heads are better than one
You’re not on your own. We’re better if we stick together, and at Cooper Parry we’re going to help you to do just that. We’re currently looking to establish an online digital platform, aimed at sharing knowledge, solving problems and connecting the business community. This way, we can all support each other. We’ll be back in touch to let you know how to join this new community.
In the meantime, we will be posting daily updates through a variety of COVID-19 COLLABORATION channels.
With UK schools closing on Friday the way we work in the future will never be the same again. Join us for our live Digital Culture Webinar this Friday 20th 9-11am. We’ve assembled great speakers, super relevant content and ideas that can boost productivity and engagement straight away. Best of all, you can ask any burning questions you have in real time.
To sign up, simply click HERE