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A post I have just put on FB but thought worth adding here as well, there's so much changing by the minute. This is going to be one hell of a storm to weather and the full effects will kick in in the next few weeks when downturn hits.
 
 
 
Well the world has changed for ever the last few weeks and no one knows where this will take us but one thing is certain small businesses are going to suffer. Fortunately HM Government are now considering this a war like economic state and many help packages are announced daily. The biggies I have noticed are those in receipt of Small Business Rate Relief will be eligible for a grant from their local council (who the rates would be paid to) of £3000 although I have just seen this may be increased to £10000 and you don't need to claim your council will contact you. This package also includes help for those that pay rates (at the moment England only but Wales/Scotland set to match-
 
- Providing £20 billion of business rates support and grant funding to help the most-affected firms manage their cashflow through this period by:
 
- giving all retail, hospitality and leisure businesses in England a 100% business rates holiday for the next 12 months
 
- increasing grants to small businesses eligible for Small Business Rate Relief from £3,000 to £10,000
 
- 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
 
 
In addition funds are to be available as guaranteed loans for businesses with a 6 month interest free period, the ins and outs of this I am exploring and will update, how to claim and if you can pay back after 6 months are there penalties etc etc.
 
WE ARE ALL IN THE SAME POSITION WITH THIS. IF YOU ARE WORRIED TALK TO SOMEONE PERHAPS YOUR ACCOUNTANT, A COLLEAGUE OR DROP US A LINE info@somsr.com if we can help we will.
 
 
 
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6 hours ago, petercoulson said:
A post I have just put on FB but thought worth adding here as well, there's so much changing by the minute. This is going to be one hell of a storm to weather and the full effects will kick in in the next few weeks when downturn hits.
 
 
 
Well the world has changed for ever the last few weeks and no one knows where this will take us but one thing is certain small businesses are going to suffer. Fortunately HM Government are now considering this a war like economic state and many help packages are announced daily. The biggies I have noticed are those in receipt of Small Business Rate Relief will be eligible for a grant from their local council (who the rates would be paid to) of £3000 although I have just seen this may be increased to £10000 and you don't need to claim your council will contact you. This package also includes help for those that pay rates (at the moment England only but Wales/Scotland set to match-
 
- Providing £20 billion of business rates support and grant funding to help the most-affected firms manage their cashflow through this period by:
 
- giving all retail, hospitality and leisure businesses in England a 100% business rates holiday for the next 12 months
 
- increasing grants to small businesses eligible for Small Business Rate Relief from £3,000 to £10,000
 
- 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
 
 
In addition funds are to be available as guaranteed loans for businesses with a 6 month interest free period, the ins and outs of this I am exploring and will update, how to claim and if you can pay back after 6 months are there penalties etc etc.
 
WE ARE ALL IN THE SAME POSITION WITH THIS. IF YOU ARE WORRIED TALK TO SOMEONE PERHAPS YOUR ACCOUNTANT, A COLLEAGUE OR DROP US A LINE info@somsr.com if we can help we will.
 
 
 

Very informative and more importantly Peter the bit about talking to people is massive there are a lot of one man/woman businesses out there feeling very worried and alone good on you, top post of the year so far 

Edited by CDTL
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10 minutes ago, cowers lane 583 said:

Feel like the whole world is on my shoulders, feel a bit helpless, so many worries, then voice in my head is screaming..

" AND YOU'RE GOING TO RUN OUT OF RABBIT FOOD BEFORE THE LOCKDOWN!!"

 

Hmm think outside the box, without toilet rolls use the rabbit(s) to wipe up and they get some nutrients at the same time.

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8 minutes ago, Michael said:

Then it's a decision what to do.....Pay off suppliers so I owe nothing, pay off business overdraft so I'm in the black, keep for wages to help with household bills!!

Some tough decisions to be made!

I would wait to see details of the loan scheme before deciding, may turn out worth borrowing if it doesn't cost a lot

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16 minutes ago, mrkeys said:

So they are gonna give me £10,000?? ill believe it when i see the bucks in my account, looks like we might all be off to Aldi to stack shelves for several months to me

 

Do you receive SBRR at the moment and pay no (or very little) rates? If so how it should work is they should be granting you the same as your rateable value up to £10000 although we have to wait and see if we claim it or it is automatically granted

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