BUSINESS

Information for businesses about how to find support

Local Restrictions Support Grant for businesses forced to close due to national restrictions between 5 November and 2 December 2020


Business premises forced to close in England from 5th November as part of the national lockdown measures will receive grants worth up to £3,000 per 28 days under the Local Restrictions Support Grant (closed) scheme.

Online applications for this scheme will be open from week commencing 16th November. 

What does this mean for you?

As a business you may be entitled to advice and support. We hosted an online meeting for businesses to get advice from a business finance professional on Monday 23 March. You can watch this back again here.

TOP TIPS

 

  • Don’t be afraid to ask for help , we are all in this together, talk to your accountant, banker or other advisor, keep people informed, do not adopt the Ostrich position.

  • Keep informed, listen to the news (but not too much) try and listen to a regular podcast from an economist to get some balance to the political rubbish  I listen to Deloitte’s economist.

  • Think of others don’t be greedy, don’t panic buy, if you have time volunteer at a local charity.

  • The new buzz words are going to be:- mothball, standstill, hold the line, dormancy.

  • Look at your business critically what has happened to my sales? Have I been forced to shut down? Should I keep going?

  • Cash preservation is critical, daily, weekly, monthly cashflows, constantly updated

  • Where can I get funds from? Own resources, insurance claim, grants, loans (beware of personal guarantees), how expensive is it?

  • Remember it has to be repaid

  • Can I slow my out goings and stop some,  and improve my incomings? 

  • Negotiate with creditors to push into the future payment dates, should be easier with HMRC, for some trade creditors much harder , you could kill them off! If you do that stick to them.

  • You may have to make redundancies or reduce staff hours,

  • There will be opportunities , new products eg hand sanitiser , face masks, etc  new ways to deliver a service or product eg Online local shopping website, home delivery, prepared packs of veg, meat products etc, flower delivery, 

  • Remember things will return to normal , but it will be a new normal, we will never go back to the way we were

  • Email business.rates@kirklees.gov.uk and ask to be included in the updates that will follow regarding accessing funding

  • Email contact@meltham.org to get regular updates

  • We need to keep everyone in touch with each other, so please talk and share your experiences, learning's & LOOK AFTER YOUR CASHFLOW!

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