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What financial support is available for my business?

Coronavirus & Business Financial Support Summary December 2021.

If you are asking yourself the question ‘What financial support is available for my business?’ we may very well have the answer for you. There still are some financial business support schemes and funds available, locally and nationally, and while this is not an exhaustive list here are our findings.

Coronavirus Statutory Sick Pay Rebate Scheme - The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the Statutory Sick Pay paid to current or former employees. Subject to eligibility criteria.

Business Rates Relief for Retail, Hospitality or Leisure Businesses - Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020 to 2021 tax year.

Business Rates Relief for Children’s Nurseries - Nurseries in England do not have to pay business rates for the 2020 to 2021 tax year.

The Recovery Loan Scheme - The Recovery Loan Scheme is currently open to businesses of any size to support them to access loans and other kinds of finance so they can recover after the pandemic and transition period.

Additional Restrictions Grant - The Additional Restrictions Grant (ARG) supports businesses that are not covered by other grant schemes or where additional funding is needed.

Kickstart Scheme - The Kickstart Scheme offers six-month jobs for young people aged 16 to 24 years old who are currently claiming Universal Credit and are at risk of long-term unemployment. Not only will you have a young person working for you, funded by the Government, you will also be supporting them to develop transferable skills that are aimed at increasing their chances of sustained employment.

The Warwickshire Recovery Investment Fund (WRIF) - Warwickshire County Coucil over the next five years will be offering loans and other financial investments to existing and new businesses to help their long-term recovery and growth.

Duplex Investment Fund - The Duplex Investment Fund delivered by CWRT is a new way to help finance capital investments by local businesses. It combines public sector grants and loans to give you financial flexibility and ensure that your project proceeds successfully.

CWRT Business Loans - Businesses that have been unable to raise sufficient, if any funding from their bank. This includes partial rejection when the applicant needs additional funds alongside those provided by other lenders.

Coventry & Warwickshire Business Support Programme - The Coventry and Warwickshire Business Support programme provides flexible support to start-ups and already established businesses.

Business Start-Up Programme - Coventry & Warwickshire Chamber Of Commerce as part of the Start-Up Programme we offer a blend of FREE workshops and 1:1 business coaching and mentoring to accelerate your business growth.

If you would like to speak to us about the financial aspects of your business, do get in touch and we can arrange to have a chat. 01788 815 017

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