Since the COVID-19 pandemic hit the UK, consumer habits have undeniably shifted towards online shopping for essential products and home improvement.
Online shopping giant Amazon is struggling to fulfil delivery times as warehouse workers follow social distancing measures, meaning that smaller eCommerce companies have a chance to take advantage of this by offering fast delivery options. However, the decrease in global manufacturing means that inventory availability of certain products has been affected and this can impact even the smallest of businesses. One key question also remains. Will buyers will ever go back to high street shopping as we know it?
In order to help businesses through this difficult period, the UK Government has made a full range of business support measures available to UK businesses. You can find the full list of financial help available for UK businesses on the GOV website here, but we’ve created this infographic detailing some of the most generally helpful.
- The Job Retention Scheme – Businesses can furlough employees and the government will reimburse 80% of the wage, up to £2,500 per month.
- VAT Deferral – Businesses can defer their value-added tax (VAT) payments, interest-free, for one year.
- Loans & Overdrafts – A loan scheme (CBILS), is helping to support businesses to access lending and overdrafts.
- Small Business Rate Relief – You can get small businesses rate relief if your property’s rateable value is less than £15,000.
- Direct Business Grants – These grants are providing up to £10,000 to around 700,000 business currently eligible for Small Business Rate Relief.
We help businesses manage their operational risk by providing comprehensive and customisable business insurance quotes online and offering the best value for money policies from trusted UK insurers. Contact Ashburnham Insurance today on FREEPHONE 0800 1696137.