Page updated: 21 July 2021

On the 19th of July, the majority of lockdown restrictions came to an end, allowing most organisations to get back to business as normal.

As businesses continue to reopen and trade over the next few months, we want to reassure our business community that first and foremost we are here to support you.

From navigating the government’s support measures to running dedicated programmes designed to strengthen businesses, we are here to help you remain resilient.

Access information on which restrictions are still in place, when they will be lifted, support measures and more below. Alternatively, please contact us to get tailored support from our team of Business Advisers. 

We are here to listen, offer advice, and connect you to support tailored to your business needs.

Reopening Businesses and Venues

Most of the rules on what you can and cannot do changed on 19 July. However, some restrictions do still remain in place. You should continue to work from home if you can, with a gradual reintroduction into the office recommended, and follow the rules and recommendations in the Coronavirus Restrictions guidance.

For more information, visit the Government’s Reopening Businesses and Venues page.

Help to Grow Scheme

In the 2021 budget, the government announced a series of measures to help support businesses as they recover from the pandemic, including the Help to Grow scheme. This is designed to help SMEs across the UK learn new skills, reach new customers and boost profits.

Help to Grow: Digital

During Autumn 2021, small businesses will be able to get free, impartial advice on how technology can boost their performance through a new online platform.

Eligible businesses will also be able to get a discount of up to 50% on the costs of approved software, worth up to £5,000. Vouchers are initially expected to be available for software that helps businesses:

– build customer relationships and increase sales

– make the most of selling online

– manage their accounts and finances digitally

Who is it for?

All businesses will be able to benefit from free online advice on the platform.

The voucher is expected to be available to UK business that:

– Employ between 5 and 249 employees, and are registered at Companies House

– Have been trading for more than 12 months

– Are purchasing the discounted software for the first time

Full details on the businesses and software eligible for the voucher will be published this summer.

To register, click here.

Recovery Loan Scheme

The Recovery Loan Scheme has been put in place to allow businesses of any size to access loans and other kinds of finance once the existing COVID-19 loan schemes close. These loans and other finance can be up to £10 million per business, and will help provide support to businesses as they recover and grow following the disruption of the pandemic and the end of the transition period.

Once received, the finance can be used for any legitimate business purpose, including growth and investment.

The government will guarantee 80% of the finance to the lender to ensure they continue to have the confidence to lend to businesses.

The scheme launches on 6 April and is open until 31 December, subject to review. Loans will be available through a network of accredited lenders, whose names will be made public in due course.

What type of finance is available?

Term loans and overdrafts will be available between £25,001 and £10 million per business.

Invoice finance and asset finance will be available between £1,000 and £10 million per business.

Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years.

No personal guarantees will be taken on facilities up to £250,000, and a borrower’s principal private residence cannot be taken as security.

Eligibility

You will be able to apply for a loan if your business is trading in the UK

You will need to show that your business is viable or would be viable were it not for the pandemic; has been impacted by the coronavirus pandemic; and is not in collective insolvency proceedings. Further details will be provided in due course.

Business that have received support under the existing COVID-19 guaranteed loan schemes will still be eligible to access finance under this scheme, if they meet all other eligibility criteria.

REQUEST A CALL BACK FROM A BUSINESS ADVISER

If you would like further guidance to understand the support measures available to your business, our team of business advisers are on hand. Request a call back from a Business Adviser to access tailored advice, guidance and support. We're here to help.