Update for Portsmouth area businesses on COVID-19
Following the latest government Coronavirus advice, which includes minimising social contact, Portsmouth City Council is taking the sensible precaution to protect the public by reducing non-essential council services.
Further details on what services are affected can be found here:
You can direct staff to nhs.uk/coronavirus where they can find the latest information and advice around coronavirus and what they should do if they think they have the illness.
Chancellor announcement
The Chancellor, Rishi Sunak has announced support for business and workers to protect them against the economic emergency caused by the coronavirus.
Business support
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption. This includes unlimited loans and guarantees to support firms and help them manage cash-flows. The Chancellor will make available an initial £330 billion of guarantees – equivalent to 15% of UK GDP.
The business support package includes:
- a statutory sick pay relief package for small and medium-sized enterprises (SMEs)
- business rate holiday for 12 months for all retail, hospitality and leisure businesses in England
- providing further £25,000 grants to retail, hospitality and leisure businesses operating from smaller premises, with a rateable value over £15,000 and below £51,000
- small business grant funding of £3,000-£10,000 for all business in receipt of Small Business Rates Relief (SBRR) and Rural Rates Relief
- up to £5 million Coronavirus Business Interruption Loan Scheme to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance with the first six months interest free
- the HMRC Time To Pay Scheme
- new legal powers in the Covid Bill enabling the Government to offer whatever further financial support they think necessary to businesses
- mortgage lenders have agreed they will support customers that are experiencing issues with their finances as a result of COVID-19, including through payment holidays of up to three months
- confirmation that government advice to avoid pubs, clubs and theatres etc. is sufficient for businesses to claim on their insurance where they have appropriate business interruption cover for pandemics in place
- to support the food industry and help provide meals for people who need to self-isolate, they will relax planning regulations to allow pubs and restaurants to start providing takeaways without a planning application
The Government have set up a helpline 0300 456 3565 or visit the website.
If you would like to receive regular updates and news for businesses in Portsmouth directly to your inbox then sign up here.
