67% funding if UK workers’ firm is shut down
With local lockdowns becoming more of an issue, Rishi today announced that UK workers will get 67% of their pay, if their business is shut down by law, because of COVID19.
What do we know?
This is an expansion of the new Job Support Scheme
- It starts 1 November 2020
- It’s available for 6 months to 30 April 2021
- Maximum of £2,100 per employee per month
- It’ll be reviewed in January 2021
- Businesses must be legally required to close
What else is being offered?
- Businesses forced to close will also receive a Business Grant of £3,000 per month, payable fortnightly.
- This is an increase to the previous amount of £1,500 per month.
Who will it help?
- This new support is aimed at hospitality and retail business who may be the first forced to close with local lockdown restrictions.
- It’s more generous than the Job Support Scheme announced a couple of weeks ago, which would only cover 22% of an employees’ wage.
What to do now?
- We’ll update this blog as we hear more.
How can Kinder Pocock help?
We’ve been supporting our small business owners throughout the COVID19 pandemic, providing up to date guidance, action plans, cashflow forecasts, and most importantly being an ear to listen to and help with your worries, ideas, and direction.
We have hands on experience to support you with your recovery plans, and give you back confidence, clarity and focus.
What you can do now:
- Check our our COVID 19 Survive and Thrive Recovery Plan, which should be covered by the SME recovery grant!
- Also keep an eye on our COVID19 Support page for loads of useful info and guidance.
- For an initial 30 minute business action plan, choose a date: