Home » Small business news roundup-18th December 2020

Small business news roundup-18th December 2020

COVID-19: Furlough scheme extended until end of April

The Coronavirus Job Retention Scheme has been EXTENDED until April 30th, 2021.

The scheme includes the government paying up to 80% of staff wages capped at £2,500 a month.

We will keep you informed on more information on this as soon as we hear anything.

To read the full story, click here.

Europe’s small businesses call for three-month post-Brexit transition period

Small businesses who import/export from the EU are calling for an implementation period of three months. Allowing time to get to grips with the new requirements starting from the 1st of January.

Any changes that can be implemented before the 1st of January is advised to reduce any stress or confusion.

We have put together a factsheet on everything that you need to know and change before 1st January click here.

We will keep you informed on more information on this as soon as we hear anything.

To read the full story, click here.

Government plans permanent state-backed small business loan scheme

Small businesses could borrow anything up to £10m through 80% state-guaranteed bank loans in addition to existing coronavirus financial support.

The Government are in talks to replace the existing coronavirus business support with a permanent small-business loan scheme.

This is suggested to launch in January to small businesses for a six-year lending period. The new loan scheme being an extension of the Coronavirus Business Interruption Loan Scheme however will have a lower threshold.

All banks will be setting their own interest rates for this loan scheme but will be capped at around 15%.

We will keep you informed on more information on this as soon as we hear anything.

To read the full story, click here.