Financial Support

Financial Support

£10 million kick-start tourism package

The Government has announced a new package to support small businesses in tourist destinations.

Grants of up to £5,000 will be available to help adapt businesses following the pandemic, with funding to be used for specialist professional advice, new technology, equipment, and online systems.

Announcement details

Changes to the Job Retention Scheme

From 1 July, employers can bring employees back to work who have previously been furloughed for any amount of time and any shift pattern, while still being able to claim the Coronavirus Job Retention Scheme grant for their normal hours not worked. When claiming the grant for furloughed hours employers will need to report and claim for a minimum period of a week.

The scheme will close to new entrants from 30 June. From this point onwards, employers will only be able to furlough employees that they have furloughed for a full three-week period prior to 30 June.

This means that the final date by which an employer needs to agree with their employee and ensure they place them on furlough is 10 June. Employers will have until 31 July to make any claims in respect of the period to 30 June.

Further guidance on flexible furloughing and how employers should calculate claims will be published on 12 June. Information on how the Coronavirus Job Retention Scheme is changing can be found here  

Advice for accommodation providers

The government has updated guidance and advice for businesses providing hotel and other accommodation in England, which can be found here

Self Employed Income Support Scheme (SEISS)

Applications for the Self-Employment Income Support Scheme have opened today.  Those eligible will receive a government grant worth up to £7,500 and money is expected to be in bank accounts by 25 May.  Self-employed individuals or members of partnerships whose business has been adversely affected by coronavirus will be able to apply for a Self-Employment Income Support Scheme (SEISS) grant worth 80% of their average monthly trading profits.

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NBSL

Helping businesses to start, grow and succeed, NBSL had grants to support for County Durham businesses through COVID, with £300,000 of funding still available to County Durham Businesses. Join over 3000 small businesses who’ve grown and developed with a grant from the North East Business Support Fund.
Click here to find out more about NBSL  

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