Coronavirus Update-27th May

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As part of Cheshire and Warrington LEP’s work to support the sub-region’s economy, the Growth Hub are sending  regular newsletters to make sure businesses have access to the latest guidance and information. The Growth Hub want to help businesses as they begin to consider implications for reopening their business, ensuring customers and employees are safe and are able to adapt to the changes faced.
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If you want to be kept up to date with Covid-19 advice and other support from the LEP and Growth Hub organisation please provide your permission by  clicking here.

Local Authority Discretionary Grant Funding
The government set up a discretionary fund to accommodate certain small businesses that are not eligible for other support schemes. This fund is being distributed through the local authorities.
Cheshire West and Chester Council are offering grants of £25,000, £10,000 or up to £10,000.
Warrington Borough Council are offering grants up to £10,000.
Cheshire East Council are in the process of detailing their scheme. 

Working Safely  
The government have released guidance to help employers, employees and the self-employed understand how to work safely during the coronavirus pandemic. The government, in consultation with industry, has produced guidance to help ensure workplaces are as safe as possible. There are 8 guides that cover a range of different types of work.  View the guidance

As well as our working safely webinars, BEIS have also announced webinars about working safely. View the webinar dates here

Guidance for reopening 
As you begin to make restart plans to reopen and resume trading, we appreciate that changes will be needed in your business to trade safely and successfully. We have compiled guidance and sector-specific resources on working safely and organisations that may be able to help. View the guidance here

Coronavirus Job Retention Scheme Extended 
It’s been announced that the government’s Coronavirus Job Retention Scheme will be extended.

  • The scheme will continue until the end of October
  • Furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500
  • From August, furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their furloughed staff. Find out more

The Future Fund Opens
The Future Fund opened last week providing government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.The Future Fund issues convertible loans to innovative UK companies with good potential, that typically rely on equity investment and are currently affected by Covid-19.  Find out more

Coronavirus Statutory Sick Pay Rebate Scheme 
The Coronavirus Statutory Sick Pay Rebate Scheme is now live, a new online service for small and medium-sized employers – with fewer than 250 employees – to recover Statutory Sick Pay (SSP) payments they have made to their employees. Find out more

Coronavirus Large Business Interruption Loan Scheme Updated
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides finance to midsized and larger UK businesses with turnover of more than £45m, that are suffering cashflow disruption due to lost or deferred revenues during the Covid-19 outbreak. Several changes to the scheme have
taken effect from 26 May:

  • The maximum amount available through CLBILS has now increased from £50m to £200m.
  • Term loans and revolving credit facilities over £50m will be offered by CLBILS lenders which have secured additional accreditation.
  • The maximum size for invoice finance and asset finance facilities remains at £50m. Find out more

Accelerate Cheshire and Warrington is a new £30M programme that has been designed to support businesses and individuals to reskill and upskill.  We are acutely aware of the difficulties many businesses will be experiencing now.
Through the Accelerate programme you can get funding towards the cost of the training.  
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