During this challenging time, advice and guidance has been critical to helping businesses navigate the support that is out there.
At Growth Platform we set up a helpline to support local businesses and individuals with advice on where to find the right information and talk through support options and how to access any financial support on offer.
We have reviewed the stats from our calls so far and the results show that:
- 46% of local businesses have financial and cash flow problems
- 32% of calls related to getting access to grants
- 75% asked about the Government schemes in place
This week we have collated a number of resources from local and national sources along with our partners to help you find the support you need:
Finance and cash flow
Tip Sheet – We have created a useful guide on how to manage your cash flow which can be downloaded here. You can also find a cashflow template here to help you.
Contact your local hub – Local information hubs and helplines have also been set up across the region by Liverpool Chamber, Wirral Chamber, St Helen’s Chamber, Knowsley Chamber, Halton Chamber and Sefton Council, Please do get in touch with your local partners for support and advice.
Webinars – We have gathered a number of online webinars that you can listen to for advice on the latest changes, simply click on this link to see all the online events taking place.
Ones to register for next week are:
- 15th April – KPMG are hosting weekly COVID -19 webinars to provide updates and talk about the short and long-term actions to help you manage the challenge ahead, more information can be found here.
- 16th April – Deloitte’s also host a weekly webinar ‘Responding to COVID-19: Updates and practical steps’ where they different topics each week, from public health and economic impact, business continuity and financing, to supporting wellbeing in uncertain times.
Playback a recording of a webinar BDO LLP hosted – Managing the Impact of Coronavirus, this webinar provides you with advice and guidance on how you can drive down costs and plan for the come back. You can listen to the recording here.
Local Business Grants
Local authorities in Liverpool City Region continue to administer the following two grants for businesses:
- Small business grant fund
Businesses will be eligible to apply for a £10,000 grant if you have been receiving Small Business Rates Relief on 11th March 2020. - Retail, hospitality and leisure grant
If your retail, hospitality or leisure sector business has a rateable value up to £15,000, your business may qualify for a £10,000 grant.
Find out your rateable value here.
To find out more about the two grants in your borough, click the following: Halton, Sefton, St Helens, Liverpool, Wirral and Knowsley.
Access to Government grants
The Government has taken further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses and announcing a new scheme for larger companies.
Coronavirus Business Interruption Loan Scheme
SMEs can apply for a loan of up to £5m, terms up to 6 years to cover term loans, overdrafts, invoice finance and asset finance. Interest and fees paid for by Government for the first 12 months. Government can get guarantee of up to 80% against the outstanding facility balance. Find out more here.
Coronavirus Large Business Interruption Loan Scheme
The new Coronavirus Large Business Interruption Loan Scheme (CLBILS) will provide a government guarantee of 80% to enable banks to make loans of up to £25m to firms with an annual turnover of between £45m and £500m. Find out more here.
#HereToHelp
Above all, if you are struggling to find out what support you are eligible for and can access, we have a dedicated team ready to take your calls who are #HereToHelp.
Simply call 0151 705 1985