As it stands, not much more information has been released regarding any of the assistance available to businesses, however, we do expect this to change tonight following Boris Johnson’s latest update.
In summary, with regards to the Business Interruption Loans, the below link shows a list of accredited loan providers, with the majority of the UK’s top banks included.
Our recommendation would be, in the first instance, if your bank is listed, to contact your designated relationship manager at the bank and see if they can provide information on how to apply.
At present, using Barclays as an example, they have acknowledged the loan, but not provided details on how to apply via their website, but they have referred to a helpline, which I’m assuming will be the case for most banks.
With regards to the Employee Retention Scheme, again, no further information has been released on how this will work or how to apply – we anticipate this will be in the coming days to avoid as many job losses as possible. This is the one that the majority of our clients seem most interested in so we will be watching for updates on this intently.
We await Boris Announcement but are feeling a growing sense of frustration that things aren’t moving quickly enough.
Business move at a 1000 mph but Governments move considerably slower than this.
Whatever Boris says tonight regarding small business support it will mean absolutely nothing without detail to support it.
Covid-19 Response Officer – (New Job Title)
I would like to Introduce Kurt Robinson who is joining Accsys Accountants today as a Senior Client Manager. Kurt’s first mission is to take charge of our Covid-19 response. He will be dedicated to helping all of our clients get the help they need from the government.
Kurt will be watching and reading everything to do with the crisis from a business perspective and feeding this back to you on Facebook and via email.
Kurt will also help if you need help with Grant documents, loan applications etc.
He will also be your main point of contact for Covid-19 on the telephone. Feel free to call me or your CM’s but Kurt will have his finger on the pulse of the help available.
Kurt is a part-qualified accountant with 6 years’ experience and has been following this issue very closely.
Please do join the Facebook group Accsys Coronavirus Support Group – I cannot seem to invite you but if you search for the group on Facebook Desktop you can request to join – we have 40 members so far. I will email updates as well but Facebook gives us a forum to share ideas and help.
Please feel free to share with anyone in business who might find the group useful.
As of right now still there are still no details of what we need to do to apply for funding but the situation is fluid and so when the info comes in you will hear from me and Kurt.