Coronavirus support for businesses

Central government support for businesses

The government made a series of announcements about the support available to businesses in response to the coronavirus pandemic, including:

  • A Coronavirus Job Retention Scheme to pay up to 80% of your employees’ salary for those that would otherwise have been laid off during this crisis. Wednesday 10 June is the last date employers can put people on furlough for the first time. From 1 July, employers will be able to bring back furloughed employees part time if they need to. From 1 August, employers will need to start paying the employer's national insurance and pension contributions. View further information on the job retention scheme
  • Deferring VAT and Income Tax payments for three months
  • A statutory sick pay relief package for small and medium-sized enterprises (SMEs) 
  • A 12-month business rates holiday for all retail, hospitality and leisure businesses (including pubs) in England
  • A business rate holiday for all nurseries for the 2020/21 tax year
  • Emergency rates relief and grants. Grant funding of £25,000 for retail, hospitality and leisure businesses (including pubs) with property with a rateable value between £15,000 and £51,000. Small business grant funding of £10,000 for all business in receipt of small business rates relief
  • The Coronavirus Business Interruption Loan Scheme (CBILS) offering interest free loans of up to £5 million for SMEs through the British Business Bank. All viable small businesses affected by COVID-19, not just those unable to secure regular commercial financing, will now be eligible
  • A Coronavirus Large Business Interruption Loan Scheme (CLBILS) to help firms with a turnover of more than £45m access up to £25m of finance, and up to £50m for firms with a turnover of more than £250m
  • A Covid Corporate Financing Facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
  • The HMRC Time to Pay Scheme
  • Relaxed planning regulations to allow pubs and restaurants to start providing takeaways without a planning application for a 12 month period
  • A £1.25bn support package for start-ups, including a £500m fund designed for small businesses and the provision of £750m in grants and loans from Innovate UK
  • A coronavirus Bounce Back Loan for small and medium-sized businesses to borrow between £2,000 and £50,000 and access the cash within days. Businesses can apply online through a short and simple form. Find out more about the scheme and find out if you are eligible to apply
  • Top-up to local business grant funds scheme to accommodate certain small businesses in England previously outside the scope of the business grant funds scheme. This is aimed at small businesses with ongoing fixed property-related costs. The maximum grant will be £25,000. There will also be grants of £10,000. Find out more about the top-up scheme

You can find more information here:

Community Wealth Building

Community Wealth Building

Find out what support the government has made available to businesses in response to the Coronavirus pandemic.

Community Wealth Building Business Bulletin (PDF)