As we enter our third lockdown, I know many businesses are fearing for their futures. The Government's support so far for business has been wholly inadequate. I back the measures recommended by the Bounce Back Better Campaign and have urged business rates relief paid back by supermarkets to be reinjected into struggling traders.
Firstly, here are some key resources and contacts if you need specialist support locally and nationally:
Government Business Support Helpline (England) - 0300 456 3565 (Monday to Friday, 9am to 6pm) - https://businesssupport.gov.uk/coronavirus-business-support/
Coventry & Warwickshire Growth Hub - 0300 060 3747 - https://www.cwgrowthhub.co.uk/service/coronavirus-outbreak-information-and-updates.
Coventry & Warwickshire Chamber of Commerce - https://www.cw-chamber.co.uk/international-trade-blog/coronavirus-february-2020/
FSB Warwickshire, Coventry and Solihull - https://www.fsb.org.uk/campaign/covid19.html
Warwickshire County Council Business Support hub - https://business.warwickshire.gov.uk/covid-19-guidance-issue
The following emergency support for businesses which are affected by the Coronavirus pandemic is available:
LATEST LOCKDOWN UPDATE:
10/01/2021:
For the latest business support from the Government go to: https://www.gov.uk/coronavirus/business-support
For a detailed outline of all the support options for businesses of various sizes, click here.
The Local Restrictions Support Grant (LRSG (Closed) Addendum) supports businesses that have been required to close due to the national restrictions. Find out more here.
The Local Restrictions Support Grant (LRSG (Open)) supports businesses that have been severely impacted due to temporary local restrictions. Find out more here.
The Additional Restrictions Grant (ARG) provides local councils with grant funding to support closed businesses that do not directly pay business rates as well as businesses that do not have to close but which are impacted. In addition, larger grants can be given than those made through LRSG (Closed). Find out more here.
A Coronavirus Business Interruption Loan Scheme that will see retail banks offer loans of up to £5m to support SMEs. The Government will cover the interest on these loans for the first twelve months. More information is available here.
A 'Bounce Back' Loan Scheme which helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. More information is available here.
For information on the Coronavirus Job Retention Scheme and to check if you can claim your employees' wages, click here.
If you are an employer looking to create 30 or more jobs placements for young people, apply for funding as part of the Kickstart Scheme. For more information, click here. And for 29 or less job placements, click here.
If you're an employer, find out if you can use the Coronavirus Statutory Sick Pay Rebate Scheme to claim back employees' coronavirus-related Statutory Sick Pay (SSP). For more information, click here.
Find out how to pay VAT payments deferred between 20 March and 30 June 2020. You can pay now or get ready to opt in to the VAT deferral new payment scheme. For more information click here.
You can defer your Self Assessment payment on account due to coronavirus (COVID-19). Check what you need to do after 31 July 2020 if you chose to defer your second payment on account for the 2019 to 2020 tax year. For more information, click here.
100% Business Rate holiday for all businesses in the retail, hospitality or leisure sector for one year in 2020-21. Eligible pubs will also be entitled to a business rate discount of £5,000. Any enquiries on eligibility for, or provision of, the reliefs should be directed to our local authority.
Check if you can claim a grant through the Self-Employment Income Support Scheme. If you're self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19) find out if you can use this scheme to claim a grant. For more information, click here.
Apply for the coronavirus Future Fund. This scheme will issue convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak. For more information, click here.
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to larger businesses affected by coronavirus (COVID-19). For more information, click here.
Scaling up HMRC Time To Pay service, allowing businesses and the self-employed to defer tax payments over an agreed period of time. The helpline for businesses in distress regarding their tax liabilities can be contacted on 0800 015 9559.
Cash grants worth:
£25,000 to the smallest businesses in the retail, hospitality or leisure sector.
£10,000 for all business in receipt of Small Business Rates Relief (SBRR) and Rural Rates Relief.
To apply for either, please visit https://www.warwickdc.gov.uk/info/20827/coronavirus/1553/coronavirus_information_for_businesses/2
For large businesses that need £5mn or more, the Bank of England’s Covid-19 Corporate Financing Facility (CCFF) may be of assistance.
Applications can be made at applications@bankofengland.co.uk.
Further emergency financial measures will be announced by the Chancellor as necessary. I will be holding the Government to account to ensure they meet the challenge this virus presents to our local economy.
My representations:
27/12/20:
I received a letter from the government on Boxing Day announcing provisional support for high streets in (let’s see) “Leamington Spa Town" (?). The communities secretary has pledged a possible £10million for Leamington - but nothing for Warwick. Bizarre, no?
Of course, I welcome the possibility of much needed funding for Leamington amid this devastating pandemic. But it would have been appropriate for the government to inform us of its rationale and provide an explanation. The letter itself being sent on Boxing Day is also curious. This is interesting and potentially good news. But now we must ensure ministers deliver!
24/12/20:
The government must step in and urgently support the hospitality sector. Many businesses in Warwick and Leamington are fearing for their future and feeling let down.
In response, I am calling on the government to use the (minimum) £2billion in business rates relief, that has been returned by major supermarkets, to bailout smaller traders. It is the least ministers can do.
Three weeks ago, with case rates looking better for Warwickshire, it seemed irresponsible and misguided for us to be placed in tier 3 along with worse performing areas such as Solihull.
That grouping of Warwickshire with Solihull and Coventry - called for by the leadership of Warwickshire County Council - resulted in our hospitality sector suffering a devastating loss of revenue during its most crucial fortnight of the year.
But now many supermarkets have made the right decision to waive their business rates relief and pay in full after an understandable outcry over the size of dividends awarded to their shareholders. This was especially insulting as COVID-19 heavily damaged smaller firms in the hospitality sector while supermarkets performed better.
Also, I will call on the government to implement the measures of the Bounce Back Better campaign to help businesses recover from virus restrictions.
16/12/20:
Soon we will learn whether our area remains in Tier 3 or indeed is 'downgraded' to Tier 2. Much of this will be decided on the basis of the social geographies chosen by the government.
And I have continued to urge ministers to use the lowest tier possible - whether that be in Warwick District, south Warwickshire or even Warwickshire - in designating the tier for our community.
After the Conservative leadership of Warwickshire County Council requested our region be grouped with Coventry and Solihull, it is the hospitality sector that bore the brunt. It meant that people could not go to cafes, pubs and restaurants and this has a social and human cost.
At the time, the high number of cases in Solihull likely condemned us to Tier 3 and businesses to losing vital revenue.
So this past week I have contacted various pubs across the area. Many have told me that they believe it is too late for Warwickshire to move into Tier 2 having lost crucial weeks of revenue in the run up to Christmas. Interestingly, the majority now tell me they would prefer to stay in Tier 3, with a great many fearing for their futures.
I am deeply concerned by the catastrophic losses some have suffered after being forced to remain closed since Warwickshire went into Tier 3 on December 2.
After the conversations this week, the overwhelming majority now say their anticipated revenues for December and January would not cover the costs of reopening, particularly with the loss of financial support and relief provided by the government.
The Newbold Comyn Arms owner Sarah Miller told me she was fearful for her business' future and said it would be no good reopening, stocking up and then closing again soon after. While January is also traditionally a difficult month for hospitality, particularly pubs.
Having spoken to other owners, I am quite sure her concerns are reflective of the general mood. I contacted various pubs in Leamington, Warwick and Whitnash. They desperately need financial support for their businesses.
Given we have seen a worrying rise in cases over the last week locally it is hard to predict how this decision will fall, particularly given that Warwickshire as a whole now has a very similar rolling case rate to Coventry and Solihull.
While I am still committed to ensuring Warwickshire is judged as its own region in the government's next tier review, I do want to urge caution in Warwick and Leamington in particular.
It is as yet unclear what caused the spike in cases in the district but I strongly urge residents to adhere to the restrictions and be extra safe as Christmas approaches.
With the government periodically reviewing the tier designations, it is up to our communities to show resolve and quickly bring cases down if we are to eventually get out of Tier 3.
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To date, I have spoken to countless businesses directly and through organisations like the FSB and the Chamber of Commerce, where they have informed me of issues such as difficulties accessing much-needed cash. I have written to the Chancellor and the Council several times to ensure that our businesses get the support they need. I have also fed in local cases to the Labour frontbench who are lobbying at the highest levels.
The 'Bounce back' loan scheme and the announced greater flexibility of the furlough scheme is, in part, thanks to the representations of colleagues and myself to get the Government to listen to the concerns of business.
However, more needs to be done and I will continue to advocate for our great local businesses. We need specific sectoral support and ongoing state aid to ensure key industries can recover post lockdown.