We recognise that for many businesses cashflow will be a significant challenge over the next few weeks. On Friday we let members know about a policy briefing the CBI is running today on supporting SMEs impacted by Coronavirus. Rebekah Kendrick will participate on this call and also a similar briefing call with FDF this afternoon, so that we can feedback any details. We understand that the CBI call is likely to include support being made available by the British Business Bank though its Coronavirus Business Interruption Loan Scheme for loans, overdraft facilities and other finance products – see: https://www.british-business-bank.co.uk/ourpartners/supporting-business-loans-enterprise-finance-guarantee/
We also understand that the Chancellor met a number of high street banks over the weekend and that UK Finance (the trade association for banking and finance industry) has announced that banks will be offering additional support, including increasing overdrafts, allowing repayment relief for loan, mortgage repayments etc. We have heard that this support may be as much as £21bn. Some details are available here: https://www.ukfinance.org.uk/press/press-releases/banking-and-finance-industry-announces-support-customers-and-sme-businesses-impacted-covid-19
The new Time To Pay numbers are:
- If you need time to pay Duty: 0800 0159 559
- For PAYE: 0800 0159 559
- Business Rates + Business Interruption Loans: 0300 456 3565
- Email: email@example.com
In these challenging times, you may find it useful to use the following links to access advice for supporting your heath and wellbeing and that of your colleagues and family.
The Drinks Trust launches COVID-19 Emergency Fund
With the support of leading industry businesses, The Drinks Trust has fundraised over £400,000 to date, to support the people of the drinks industry who have been left in financial crisis as a result of COVID-19.
Visit https://www.drinkstrust.org.uk/cv19-fund for more information
Coronavirus: How to protect your mental health – https://www.bbc.co.uk/news/health-51873799
How to cope with stress – https://www.who.int/docs/default-source/coronaviruse/coping-with-stress.pdf?sfvrsn=9845bc3a_2
How to help children cope with stress – https://www.who.int/docs/default-source/coronaviruse/helping-children-cope-with-stress-print.pdf?sfvrsn=f3a063ff_2