Coronavirus Support


Keep up to date with the latest news and developments surrounding The Coronavirus situation.

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Coronavirus: Action For You


Introduction

The Greater Birmingham Chambers of Commerce is working hard to lobby for additional support for local businesses from Government and stakeholders.

Throughout this period we will be keeping in close contact with our members to understand their needs and undertaking a significant stakeholder engagement and lobbying campaign to secure them the support that they need urgently.


Government Support For Businesses

The GBCC have been lobbying for additional support for businesses. To date, the following measures have been announced:

  • Coronavirus Job Retention Scheme: to cover up to 80% (up to £2500 per month) of employees’ salaries who would otherwise be made redundant, backdated to 1st March 2020.
  • Self-Employed Income Support Scheme: The Government will pay self-employed individuals a taxable grant worth 80% of average monthly profits over the last 2 years (up to £2500 a month) for those with a trading profit of up to £50,000, who make the majority of their income from self-employment and have submitted their 2019 tax return (or do so in the next 4 weeks)
  • VAT Payment Deferral: next quarter’s VAT payment will be deferred with businesses given until the end of the financial year to repay.
  • Support for the Self-Employed: self-assessment payments will be deferred until January 2021 and individuals will be able to access the equivalent of Statutory Sick Pay through Universal Credit
  • Statutory Sick Pay Refunds: up to 14 days per employee affected in relation to COVID-19 for businesses with under 250 employees.
  • Business Interruption Loan Scheme: offering British Business Bank-backed loans through high street banks and other lenders to cover up to 80% of a business’ losses arising from Coronavirus (COVID-19), with no interest payments for 12 months. Contact your bank for more information.
  • 100% Business Rates Relief: for 12 months for businesses in the retail, leisure & hospitality sectors. Businesses do not need to apply for this support, it should be implemented automatically by your local authority.
  • Up to £25,000 grant: for businesses with a rateable value of under £51,000 in the retail, leisure & hospitality sectors. Applicable businesses will be contacted by your local authority.
  • Up to £10,000 grant: for businesses already receiving Small Business Rates Relief or Rural Rates Relief. Applicable businesses will be contacted by your local authority.
  • Extension of Time to Pay: HMRC to consider Time to Pay arrangements for businesses experiencing cash-flow issues arising from Coronavirus (COVID-19) via a dedicated HMRC COVID-19 helpline: 0800 0159 559.

While the support has been announced, much has yet to be made available for businesses. We are currently campaigning for this support to reach businesses immediately.

DOWNLOAD OUR BRIEFING ON THE LATEST SUPPORT

10 Point Plan for Supporting Businesses Through Coronavirus (COVID-19)

The GBCC have been lobbying for additional support for businesses. To date, the following measures have been announced:

  • Released our stakeholder toolkit and 10 point plan (Click Here)
  • Called for case studies and feedback on priorities from Chamber members (Click Here to Submit Yours)
  • Undertaken a significant media and stakeholder engagement exercise

We will continue to update our asks and materials frequently to best reflect our members’ needs as the situation continues to evolve.

 


How is Coronavirus (COVID:19) Impacting Businesses?

Between the 17th February and 9th March 2020, the GBCC undertook a survey of local businesses on the impact of Coronavirus (COVID-19) to date on their organisations.

  • 28% reported experiencing or expecting to experience Coronavirus (COVID-19) related disruption
  • 23% highlighted supplier disruption and 22% reported cancelled appointments, events or trade shows (with a subsequent impact on the pipeline of future work)

As a result, the GBCC are recommending that the Government takes a number of measures to support businesses in managing Coronavirus (COVID-19) related disruption

Download Full Report Here


Get In Touch

Has your business been impacted by Coronavirus? Contact your relationship manager or submit a message below:

Coronavirus Support