The Government has announced a range of support packages to support businesses through the Coronavirus pandemic, which including the following:
- Coronavirus Business Interruption Loan Scheme (CBILS)
- Business rates holiday for retail, hospitality and leisure
- Cash grant for retail, hospitality and leisure
- Coronavirus Job Retention Scheme
- Small business grant funding
- Statutory sick pay rebate
- HMRC Time To Pay arrangements
- 3-month VAT deferral
- Income tax deferral for the self-employed
Whilst CBILS is a crucial source of funding, businesses will still need to prepare a considered funding application. Having an up to date business plan, management accounts and cash flow forecasts available will all be helpful to securing appropriate funding for your business during the pandemic.
Bishop Fleming has a team of specialists ready to advise clients through Coronavirus. As a partner of Capitalise, we have access to 100+ lenders to provide businesses with the opportunity to secure the right kind of funding.
