Download infographic here: How to choose right COVID-19 Government support package for your business (with clickable links to the correct page on www.gov.uk)
In response to the Coronavirus (COVID-19) pandemic, the UK Government mobilised a range of initiatives and support packages to combat the economic and social impacts of the virus and support employees and firms through the crisis.
With many employees having been furloughed or working from home since March and no end to the uncertainty imminently expected, firms have had to adapt rapidly to the fluid situation and seek government support and assistance when necessary.
- Coronavirus Job Retention Scheme (CJRS)
- Bounce Back Loan Scheme (BBLS)
- Coronavirus Business Interruption Loan Scheme (CBILS)
- £1.25 billion support package for innovative firms
At the time of writing (22 December 2020), the latest statistics released by HM Treasury on 13 December indicate that the UK Government has:
- Delivered over 1,431,987 BBLS worth £43.54 billion for small businesses.
- Protected over 9.9 million jobs with the CJRS, with £46.4 billion already claimed.
- Approved over 82,618 CBILS worth £19.64 billion for small and medium-sized firms.
With a plethora of options available, it can be difficult to identify which Government support policies are most appropriate for your business since many of these schemes have prerequisite conditions attached to the application.
With our infographic( download now), we explore the options available to small and medium-sized firms, point to the right place on www.gov.uk and allow you to identify the support package (s) most relevant for your business.