FINANCIAL SUPPORT
AVAILABLE

covid-19-support

The Business Support Service from:

Birmingham City University Logo

BUSINESS SUPPORT MEASURES AVAILABLE

This page summarises some of the key business support measures available through UK Government Business Support. The available support schemes are categorised under heading according to support type. The links provide further information about each scheme, and guidance on route to access.

BUSINESS LOANS

BOUNCE BACK LOANS

Small business loans of £2,000-£50,000 that are 100% Government-backed. Application deadline extended to 31 March 2021.
UPDATED

Coronavirus Small Business Interruption Loan Scheme

UK-wide. This scheme will help smaller businesses affected by coronavirus to access finance of up to £5 million. The scheme is open until 31 March 2021.
UPDATED

Coronavirus Large Business Interruption Loan Scheme

UK-wide. This scheme will help larger businesses affected by coronavirus to access finance of up to £200 million. The scheme is open until 31 March 2021.
UPDATED

Covid-19 Corporate Financing Facility

UK-wide. The new Covid-19 Corporate Financing Facility (CCFF) means that the Bank of England will buy short-term debt from larger companies.

The Future Fund

A £1.3bn package of investment, grants and loans for high-growth and innovative companies. Application deadline extended to 31 January 2021.
CLOSED

CULTURE RECOVERY FUND

UK-wide. A package grants, loans and investment for arts, culture and heritage organisations worth £1.57 billion Repayable finance Round 2 application deadline 07 January 2021.
CLOSED

Coronavirus and claiming benefits

Information about the support available to people who are already claiming benefits, need to claim benefits, or are at risk of losing their job as a result of coronavirus.

LABOUR COSTS AND WELFARE

Coronavirus Job Retention Scheme

UK-wide. Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme 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. Scheme extended to 31 April 2021.
extended

Self-Employment Income Support

UK wide. Income support grants for those who are self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19). Third taxable grant application deadline 29 January 2021.
updated

Statutory Sick Pay Rebate

Scheme for small and medium-sized businesses to reclaim Statutory Sick Pay (SSP) paid for staff sickness absence due to coronavirus.

Coronavirus and claiming benefits

Information about the support available to people who are already claiming benefits, need to claim benefits, or are at risk of losing their job as a result of coronavirus.

DEFERRING TAX LIABILITIES

VAT Deferral

UK-Wide. Supporting businesses by deferring Valued Added Tax (VAT) payments for 3 months until 30 June 2020. An opt-in process for the VAT deferral new payment scheme will be launched in 2021.
UPDATED

Deferral of Self-Assessment payment

UK-wide. The Self- Assessment payment on account, that is ordinarily due to be paid to HMRC by 31 July 2020 may now be deferred until January 2021.

HMRC Time to Pay Scheme

Businesses and the self-employed in financial distress, and with outstanding tax liabilities, may be eligible to receive support through HMRC’s Time To Pay service.

BUSINESS GRANTS

Local Restrictions Support Grant (LRSG (Closed) Addendum)

England only. The LRSG (Closed) Addendum supports businesses that have been required to close due to the national restrictions in force from 5 January 2021.
NEW

Local Restrictions Support Grant (LRSG (Sector))

England only. LRSG (Sector) is for eligible businesses that have been required to close due to the national restrictions introduced in March 2020, and which have not been able to re-open. Eligible businesses include nightclubs, dance halls, discotheques, adult entertainment venues and hostess bars.
NEW

Additional Restrictions Grant (ARG)

The ARG provides local councils with grant funding to support closed businesses that do not directly pay business rates as well as businesses that do not have to close but which are impacted.
UPDATED

Local Restrictions Support Grant (LRSG)

England only. Grants of up to £3,000 per 28-day period for businesses required to close due to Tier 2, Tier 3 or Tier 4 national lockdown restrictions. Administered via Local Authorities.
UPDATED

Christmas Support Payment (CSP)

England only. The CSP grant provides funding for local authorities subject to Tier 2 or Tier 3 restrictions in December 2020 to pay one-off grants of £1,000 to wet-led pubs.
UPDATED

The Future Fund

A £1.3bn package of investment, grants and loans for high-growth and innovative companies. The scheme is open for applications until 31 January 2021.
CLOSED

CULTURE RECOVERY FUND

UK-wide. A package grants, loans and investment for arts, culture and heritage organisations worth £1.57 billion Repayable finance Round 2 application deadline 07 January 2021.
CLOSED

Local Authority Discretionary Grants

A discretionary fund aimed at small businesses who were not eligible for the Small Business Grant Fund or the Retail, Leisure and Hospitality Fund. There will be three levels of grant payments up to a maximum of £25,000.
closed

Small Business Grant Fund (SBGF)

England only. The Government is providing additional funding for Local Authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBRR), rural rate relief (RRR) and tapered relief.
closed

Cash Grant for Retail, Hospitality and Leisure

England only. If your business is in the retail, hospitality or leisure sector, you will receive a cash grant of up to £25,000 per property.
CLOSED

SME RESTART GRANT

These grants of £1,000 - £3,000 (or up to £5,000 in exceptional circumstances) from the GBSLEP GrowthHub are for SMEs with 5-9 employees to purchase support and equipment to enable them to adapt their business model.
CLOSED

Eat Out to Help Out Scheme

A government funded discount scheme to encourage diners to eat at restaurants / establishments.
CLOSED

BUSINESS RATES

12-month business rates holiday

England only. Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020-21 tax year.

Nursery business rates holiday

England only. Children’s nurseries in England will not have to pay business rates for the 2020-21 tax year.

SUPPORT MEASURES...

Join Our Business Support Newsletter

Making it easier to
support your business

Join 1600+ monthly newsletter subscribers to also receive the latest business support blogs, events, funding opportunities and more…