Further UK Government Support for Businesses
The Summer Economic Update announced on 8 July by the Chancellor included some further grants which may be of benefit to equestrian businesses. Businesses with furloughed staff should investigate the Job Retention Bonus – The government will introduce a one-off payment of £1,000 to UK employers for every furloughed employee who remains continuously employed through to the end of January 2021.
Employers are also being incentivised to create new jobs for 16 to 24 year olds in Great Britain. There are also payments for employers who take on new apprentices in England.
Further details can be found here
The UK Government has a dedicated website offering guidance for employees, employers and businesses: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19
You can keep up to date with ongoing changes to travel, social distancing and isolation here: https://www.gov.uk/coronavirus
Business support grant funding
A full range of business support measures have been made available to UK businesses and employees.
Find out how to access the support that has been made available, who is eligible, when the schemes open and how to apply: https://www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19
The Government have launched a simple tool to help you quickly find the business support packages which are available to you and your business: https://www.gov.uk/business-coronavirus-support-finder
The Government has introduced a business rates holiday for leisure businesses in England for the 2020 to 2021 tax year.
The Scottish Government has made changes to non-domestic rates (business rates) for 2020-21. https://www.mygov.scot/non-domestic-rates-guidance/
The Scottish Government has introduced extra rates reliefs (discounts) https://www.mygov.scot/non-domestic-rates-relief/.
Republic of Ireland
Government Bounce Back Loan Scheme
Under the scheme businesses will be able to borrow between £2,000 and £50,000 and access the cash within days.
The loans will be interest free for the first 12 months, and businesses can apply online through a short and simple standardised loan application.
Small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders.
Find out more information.
Coronavirus Business Interruption Loan Scheme
A new temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, to support primarily small and medium-sized businesses to access bank lending and overdrafts.
Guidance has been provided giving more clarity on the Government furlough grant.
Find out more information about the Government furlough grant.
The Prince’s Trust and NatWest Enterprise Relief Fund
The £5million Enterprise Relief Fund will offer grants to 18 to 30-year olds across the UK who are self-employed and/or running their own business. In conjunction with cash grants, the initiative will offer one-to-one support and guidance to anyone who needs it and who may be worried about their future.
Find out more information the relief fund.
Please follow the governments advice for employers and business on their website.
If an employee contracts Coronavirus at work you should report the incident on the RIDDOR reporting website.
CORONAVIRUS (COVID-19) ADVICE & INFORMATION FOR EQUESTRIANS
Please read our information and advice for horse owners and business owners during the Coronavirus (Covid-19) outbreak