Coronavirus Business support
Telford & Wrekin Council leader has written to businesses in the borough time of unprecedented hardship for our business community.
Councils will play a key part in administering the national support packages announced by the Government, including support for business rates, grants, statutory sick pay and relief loan facilities through the British Business Bank.
More guidance from Government will be published in stages over the coming weeks.
In summary, the Government’s current support packages are:
- a statutory sick pay relief package for SMEs
- a 12-month business rates holiday for all occupied retail, hospitality and leisure businesses in England
- small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
- grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
- the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
- a new lending 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
To help businesses get the latest information in the simplest way possible, the Council has opened a special support help line for businesses to advise on rates advice, grants and other business support on 01952 383838.
This line will be open from 9am to 5pm Monday to Friday. In addition, and outside these hours, up to date information relating to COVID-19 is available on the home page of the Council’s website.
Council leader Shaun Davies said; “With many businesses and even more employees affected by the impacts of the Coronavirus, it’s vital we’re doing everything we can help give the right support for our economy.
“This is a very tough and uncertain time for business big and small and I hope we can ensure they have the latest information to help them react swiftly and make the most of the Government and other support available.”