Coronavirus Update – 25th March

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On behalf of Cheshire and Warrington LEP, Cheshire and Warrington Growth Hub provides support and information to businesses.  During this time, we will be providing the very latest guidance in relation to Covid-19 for your business along with details of existing and new support packages to help our businesses minimise the impact on their immediate and longer-term operations.

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Coronavirus Updates

We will be updating our website daily with the latest information and guidance. This will include official government guidance, guidance on financial support available and useful links, as well as information about the latest measures introduced. View the website here
 

 

Coronavirus Job Retention Scheme

All UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. HMRC will reimburse 80% of their wages, up to £2,500 per month to safeguard workers from being made redundant. The Coronavirus Job Retention Scheme will cover the cost of wages backdated to March 1st and is initially open for 3 months, but will be extended if necessary. We will update you when this is available. 
Update on grant schemes

A £10,000 grant was announced for small businesses, eligible businesses will be contacted directly by their local authority. A £25,000 grant was also announced for retail, hospitality and leisure businesses operating from smaller premises. This grant will also be issued via the local authorities. We will update you on timings for both these grants. 
 

 

Coronavirus Business Interruption Loan Scheme

The scheme supports small and medium-sized businesses with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to six years. The Government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees. The scheme will be delivered through commercial lenders, backed by the Government-owned British Business Bank.There are 40 accredited lenders able to offer the scheme and your current bank is the best place to start.  View the forty lenders here
 

 

Growth Hub Support

We are offering businesses ongoing support at this time, we are offering telephone and video conference meetings as well as the usual support offered. Request further support
COVID-19 Corporate Financing Facility

The Bank of England will buy short-term debt from larger companies. This will support companies which are fundamentally strong, but have been affected by a short-term funding squeeze. In order to access the CCFF, you will need to contact your bank.  More information can be found here
 

 

Coronavirus Survey

So that we can better understand the extent of the COVID-19 impact on business, and inform Government what help businesses across Cheshire and Warrington need, we are asking as many of you as possible to complete a short survey. Please take a couple of minutes to do this if you can, to help us understand what support is needed. Complete the survey
 

 

Business Support Website

The national business support website has been updated to include a coronavirus section. This has the latest details about the various schemes available and a useful FAQ section.  Visit the website

Contact Us
T: 03300 245007
E: support@candwgrowthhub.co.uk
candwgrowthhub.co.uk

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