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COVID 19

Useful information from the York & North Yorkshire LEP 20.03.20

  • 20 March 2020
  • Number of views: 118
COVID 19

Government: The announcement on the Gov.uk website lists the various measures available and who is administering them:

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

This is comprehensive & updated as they add additional measures. In particular, you will see that grants and business rate relief measures will be administered via Local Authorities. We will update on application processes when we know more.

The 'business interruption' loan scheme (up to £5m loans) will launch next week and will be delivered through the British Business Bank and lenders. The BBB link is: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/

Two schemes involving the Bank of England: The measures on 11th March included a term funding scheme aimed at SMEs delivered via the banks: https://www.bankofengland.co.uk/news/2020/march/boe-measures-to-respond-to-the-economic-shock-from-covid-19

Ask your bank about support. Another scheme for larger firms via the Bank of England

https://www.bankofengland.co.uk/news/2020/march/hmt-and-boe-launch-a-covid-corporate-financing-facility

There is a market notice explaining some of the detail of how the facility will work: https://www.bankofengland.co.uk/markets/market-notices/2020/ccff-market-notice-march-2020

Application forms and pricing will be added to the Bank of England's website on Monday 23rd.The Bank will publish a dedicated webpage for corporates seeking to use the CCFF as soon as possible.

The Association of British Insurers have issued a statement on business insurance cover here:

https://www.abi.org.uk/news/news-articles/2020/03/statement-on-business-insurance-and-coronavirus/

They also have a COVID-19 Q&A which includes business insurance, trade credit, income protection and pensions and investments,  here;

https://www.abi.org.uk/products-and-issues/topics-and-issues/coronavirus-qa

Also, in case useful: Visit Britain/Visit England: have a dedicated COVID-19 webpage<

http://maxemail.visitbritain.com/rsps/m/fXOKg_mehy7guvxL91Gu998FnSio1EazlJ7bzp6gWI0

Charities; For anyone involved with charities:

 https://www.civilsociety.co.uk/news/coronavirus-what-charities-need-to-know.html

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