To apply for the small businesses fund or the support for businesses in the retail, hospitality and leisure fund visit the Bath and North East Council's page.
Cash grants for retail, hospitality and leisure businesses
If your business is in the retail, hospitality or leisure sector, has a rateable value of less than £51,000 and was registered as a business rate payer on or before 11 March 2020, you may be eligible to receive a cash grant of up to £25,000 per property.
Support for businesses that pay little or no business rates
The government has provided additional funding for local authorities to support small businesses that already pay little or no business rates because of Small Business Rate Relief (SBBR) or Rural Rate Relief. This will provide a one-off grant of £10,000 to businesses eligible for SBRR or Rural Rate Relief, to help meet their ongoing business costs.
If your business was eligible for Small Business Rate Relief or Rural Rate Relief on or before 11 March 2020, you can apply for the funding that was provided to us by government in early April. We received further guidance on the scheme on 1 April 2020 - available to view here.
A fund has been set up to accommodate certain charities and small or micro businesses who were not previously eligible for the business grant scheme.
The registration can be found on the Bath and North East Somerset Council pages. Please read more about the fund, eligibility and the registration process: https://beta.bathnes.gov.uk/register-discretionary-fund
Coronavirus Bounce Back Loan
The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000. The Bounce Back Loan scheme will launch on 4 May 2020.
The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.
Loan terms will be up to 6 years. No repayments will be due during the first 12 months. The government will work with lenders to agree a low rate of interest for the remaining period of the loan.
The scheme will be delivered through a network of accredited lenders.
Support for businesses through deferring VAT and Income Tax payments
Government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months. If you’re self-employed, Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021. All UK businesses are eligible.
For VAT, the deferral will apply from 20 March 2020 until 30 June 2020.
This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid by the government as normal.
For Income Tax Self-Assessment, payments due on the 31 July 2020 will be deferred until the 31 January 2021.
If you are self-employed you are eligible. How to access the scheme: This is an automatic offer with no applications required. No penalties or interest for late payment will be charged in the deferral period.
Support for businesses paying tax
All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.
If you are concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 024 1222 .
Support for businesses through the Coronavirus Business Interruption Loan Scheme
The government will provide lenders with a guarantee of 80% on each loan (subject to a per-lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The government will not charge businesses or banks for this guarantee, and the Scheme will support loans of up to £5 million in value.
You are eligible for the scheme if your business is UK based, with turnover of no more than £45 million per annum & your business meets the other British Business Bank eligibility criteria.
The full rules of the Scheme and the list of accredited lenders is available on the British Business Bank website. All the major banks will offer the Scheme, there are 40 accredited providers in all.
You should talk to your bank or finance provider (not the British Business Bank) as soon as possible and discuss your business plan with them.
Support for larger firms through the COVID-19 Corporate Financing Facility
Under the new Covid-19 Corporate Financing Facility, the Bank of England will buy short term debt from larger companies.
This will support your company if it has been affected by a short-term funding squeeze, and allow you to finance your short-term liabilities. It will also support corporate finance markets overall and ease the supply of credit to all firms.
Support for large businesses through the Coronavirus Large Business Interruption Loan Scheme
The new Coronavirus Large Business Interruption Loan Scheme (CLBILS) will provide a government guarantee of 80% to enable banks to make loans of up to £25 million to firms with an annual turnover of between £45 million and £500 million.
This will give banks the confidence to lend to many more businesses which are impacted by coronavirus. Facilities backed by a guarantee under CLBILS will be offered at commercial rates of interest.
We expect the scheme to be delivered through commercial lenders. The government will provide lenders with an 80% guarantee on individual loans for businesses that would be otherwise unable to access the finance they need.
Lenders will still be expected to conduct their usual credit risk checks. This scheme allows lenders to specifically support businesses that were viable before the COVID-19 outbreak but now face significant cash flow difficulties that would otherwise make their business unviable in the short term.
The new scheme will launch later this month and will support a wide range of businesses to access finance products including short term loans, overdrafts, invoice finance and asset finance.
Businesses would remain responsible for repaying any facility they may takeout.
Additional Funding Streams
Sport England are making up to £195 million of funding available to help the sport and physical activity sector through the ongoing coronavirus (Covid-19) crisis.
The package, which is a combination of National Lottery and government funding, is made up of the following:
- A £20 million Community Emergency Fund, which will be opened immediately for clubs and community organisations to bid into. Grants between £300 and £10,000 are available
- A £5 million pot for existing partners to bid into if they're facing specific financial difficulty
- An additional £55 million to support our sector during an ongoing period of restrictions, to fund new and innovative ways to keep people active and, when the period of restrictions is over, to help organisations get back to business and adjust to a different environment
- A £115 million rollover of current funding into 2021/22 to give long term certainty to over 100 well established partners who play a vital role in the delivery of sport and physical activity in England.
Alongside this, given cashflow concerns in the sector, Sport England have also agreed to consider requests to release six months of the coming year’s funding (50% of awards) to our partners, meaning additional funding will be available sooner.
The Prince’s Trust and NatWest Enterprise Relief Fund
The £5million Enterprise Relief Fund will offer grants to 18 to 30-year olds across the UK who are self-employed and/or running their own business. In conjunction with cash grants, the initiative will offer one-to-one support and guidance to anyone who needs it and who may be worried about their future.
To be eligible to apply, you must be a business owner aged 18 to 30, who set up their business in the last four years and don't have any other source of income during the crisis.
Arts Council England
Arts council England are making £160 million of emergency funding available for those organisations and individuals who will need it during this crisis Art Council England are making £20 million available to individuals working in the cultural sector, including artists, creative practitioners and freelancers.
Financial support for artists, creative practitioners and freelancers. Creative practitioners whose main work is focused on these artforms and disciplines could be eligible:
- Visual Arts
- Combined Arts
- Museums practice
- Libraries (activity that helps deliver the Universal Library Offers)
This work includes: choreographers, writers, translators, producers, editors, freelance educators in the disciplines and artforms they support, composers, directors, designers, artists, craft makers and curators
Round Open Deadline
Round one 09 April 2020 16 April 2020
Round two 16 April 2020 30 April 2020
Art Fund network grants provide funding to support Subject Specialist Networks (SSNs) and other curatorial and professional networks in sharing expertise across the museum sector, for the benefit of collections and audiences.
Bristol and Bath R+D have created a simple list of schemes aimed at helping creative and cultural workers in the short term.
Youth Music has announced a new Emergency Fund to offer additional support to music-making organisations affected by coronavirus. The Emergency Fund is designed to support organisations facing the following challenges:
- Cashflow – organisations are seeing threats to their income, in particular from charged-for services and from contracts. This has significant implications for honouring employment and freelance contracts and core ongoing costs. At the time of writing there is still a lack of clarity about eligibility of government support measures and when any funding might be released.
- Maintaining services – there are/will be challenges in continuing to deliver core services through staff or volunteer absence, social distancing measures, increased childcare responsibilities, venues being closed etc.
- Adapting services – delivering services in new ways, which can be more expensive, have high set-up costs (e.g. IT infrastructure, buying tech or instruments for tutors and young people) or require new policies or expertise.
- Children and young people – the impact of the situation on children and young people’s mental and physical health; the negative implications for some vulnerable children of being out of school; keeping in contact now that the normal music sessions have ceased; engaging young people in new forms of learning; reaching children beyond digital access (e.g. disabled young people; those who don’t have devices or an internet connection).
Facebook Small Business Grants programme
Facebook Business are looking to fund 30,000 eligible small businesses in more than 30 countries. To be eligible to apply, you must:
- Have between 2 and 50 employees
- Have been in business for over a year
- Have experienced challenges from COVID-19
- Be in or near a location where Facebook operates
This grants programme will launch in the coming weeks. Facebook are still working through eligibility details for you’re the UK but sign up on their website for future updates. In the meantime, you can visit our Business Resource Hub for helpful resources.
Support for Community organisations
Quartet Community Foundation (QCF) awards grants to support community based work that has a charitable purpose. Primarily grants are awarded to organisations based and working in the West of England to benefit local people and where a relatively small amount of funding can make a significant difference.
CITB Skills and Training Fund
CITB Skills and Training Fund has been refreshed and now encompasses two strands supporting; micro and small companies (up to 100 employees), medium sized businesses (up to 250 employees) to become a wider offer for employers. CITB has adapted to the COVID-19 situation by amending the scope of activity that will be supported offering more flexibility on what businesses can apply for.
The fund comprises of two streams:
- A Skills and Training fund for micro and small businesses where businesses can apply for a maximum of £10,000 (full details and how to apply) depending on the size of the employer.
- A Skills and Training fund for medium-sized businesses where employers with up to 250 employees are eligible to receive up to £25,000 (full details and how to apply).
Based on employer need the fund will allow businesses to define then address their particular challenges. The focus has broadened from productivity and innovation, to helping employers with business sustainability and skill retention – key concerns for the construction industry in the extraordinary circumstances we find ourselves in at the moment.
Business-led innovation in response to global disruption UK registered businesses can apply for a share of up to £20 million to respond to new and urgent needs in UK and global communities during and following the Covid-19 pandemic.
- Competition opens: Friday 3 April 2020
- Competition closes: Friday 17 April 2020 12:00pm
Innovate UK, as part of UK Research and Innovation, will invest up to £20 million in innovation projects. By fast-tracking innovation, the UK will be better placed to maintain employment levels, a competitive position in global markets and make the UK more resilient to similar disruption.
Your application must demonstrate both realistic and significant benefits for society (including communities, families and individuals) or an industry that has been severely impacted and/or permanently disrupted by the Covid-19 pandemic.