Rochdale BID want to keep you updated with the latest news, information and advice during the coronavirus (COVID-19) pandemic.
What financial support is available for businesses for this second lockdown?
- Furlough: The Coronavirus Job Retention Scheme will remain open until December, with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500. At the end of this period, employment support will revert to the Job Support Scheme. Check which employees you can put on furlough here.
- Grants: Businesses required to close in England due to local or national restrictions will be eligible for a grant. The grants application process for Rochdale businesses will be announced in due course.
- For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
- For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
- For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.
- Support for Self Employed: The Government has announced that the UK-wide Self-Employment Income Support Scheme (SEISS) will be revised to take account of the lockdown. As a result, the self-employed will receive 80% of their average trading profits for November. Payments will also be made more quickly with the claims window being brought forward from 14th December to 30th November.
- Extension of Loans Application Deadline: The various Coronavirus loan schemes, including the Coronavirus Bounce Back Loan and the Coronavirus Business Interruption Loan will remain open for applications until 31st January 2021.
For further information about the financial support available for businesses during the COVID-19 pandemic, click here.
If you have any queries regarding the support which his currently being offered, please don’t hesitate to contact me on 07811 278517.
Paul Ambrose
BID Manager
03 Nov 2020