The growth hub for small and independent businesses
One-off grants worth up to £9,000 will be available for businesses in retail, hospitality and leisure to help them stay afloat until spring 2021, the Chancellor has announced.
Jan 5, 2021
On December 17th 2020 Chancellor Rishi Sunak announced that the Coronavirus Business Interruption Loan Scheme (CBILS) is being extended to the end of March 2021. Previously, the deadline was set to the end of January.
Jan 4, 2021
Chancellor Rishi Sunak plans to extend the government-guaranteed emergency loan schemes and furlough scheme to provide further financial help to UK businesses impacted by the pandemic.
Dec 18, 2020
On 24 September 2020 the Chancellor Rishi Sunak announced a further set of targeted measures to protect jobs and help businesses remain financially feasible as we head into the winter months.
Sep 30, 2020
The government-backed British Business Bank (BBB) has provided accredited lenders with extra time to grant state-backed loans to adversely affected SMEs and larger firms through the Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus Large Business Interruption Loan Scheme (CLBILS).
Aug 28, 2020
More small businesses are set to benefit from the Coronavirus Business Interruption Loan Scheme (CBILS) after UK Government and industry lobbying led to recent changes to state aid rules.
Aug 7, 2020
On July 8th, Chancellor Rishi Sunak announced a series of new measures worth £30bn in a bid to prevent mass unemployment as the economy is hit by the coronavirus pandemic.
Jul 9, 2020
The UK government is expanding the £500m Future Fund for UK firms that have been adversely affected by the coronavirus pandemic, allowing businesses that have moved their HQs abroad to access the scheme.
Jun 30, 2020
To say that COVID-19 is having a significant impact on the UK’s economic landscape is an understatement. Just last week, Rishi Sunak confirmed that the country’s debt is now worth more than its entire economy after the government borrowed £55.2bn in May – the highest amount since records began in 1993.
Jun 23, 2020
We’ve put together a list of FAQs to help you understand how the Coronavirus Business Interruption Loan Scheme (CBILS) works and how to apply. You can visit our COVID-19 content hub for more information on the financial support available and you can use our platform to find appropriate finance for your circumstances.
Jun 18, 2020
If you’re self-employed or a member of a partnership and your work has been adversely affected by COVID-19, you could be eligible to claim a grant through the UK government’s Self-Employment Income Support Scheme.
Jun 18, 2020
On 29 May 2020, Chancellor Rishi Sunak confirmed that the UK government will be extending the Self-Employment Income Support Scheme (SEISS), offering self-employed workers affected by coronavirus the chance to claim a second and final payment in August.
Jun 8, 2020
As the UK’s coronavirus lockdown measures are eased, some businesses are looking to reopen either fully or partially over the coming weeks, while others will remain closed.
Jun 1, 2020
The Coronavirus Business Interruption Loan Scheme (CBILS) was launched in March to help businesses mitigate the impact of the pandemic. Over the last few weeks, the scheme has become available to a wider range of businesses. Read on to find out more about the CBILS, including what to prepare for your application and what to do if you’re rejected.
May 19, 2020
To mark mental health awareness week, we’re sharing tips on how employers can support their team remotely and what we can do as individuals to help manage our mental health during lockdown.
May 18, 2020
As the government begins to draft plans for getting employees back into work, individual businesses are working around the clock to bolster their own business continuity plans. If the health crisis has shown us anything, it’s that we can’t predict the future. But we can take proactive measures that will help us build resilience in the weeks and months to come.
May 8, 2020
On 20 April 2020, Chancellor Rishi Sunak announced a new £1.25 billion coronavirus scheme to support some of the UK’s most innovative firms. The package comprises a £500 million Future Fund for high growth startups that have been affected by the pandemic and £750 million of grants for SMEs focusing on research and development. The announcement of the Future Fund comes after some of the country’s biggest scale-up brands, including Deliveroo and Citymapper, appealed to the government in an open letter to provide access to funding support measures to companies like theirs and other startups.
Apr 22, 2020
- Coronavirus Large Business Interruption Loan Scheme will launch on Monday 20th April - Eligible businesses with turnover of more than £45m can apply for support - Businesses with turnover of over £250 million can borrow up to £50 million from lenders In addition to the Coronavirus Business Interruption Loan Scheme (CBILS) and the Covid Corporate Financing Facility, the government has outlined details of the Coronavirus Large Business Interruption Loans Scheme (CLBILS) – a measure designed to help more businesses access financial support.
Apr 17, 2020
On March 23rd, the UK Government outlined strict new measures to limit the spread of coronavirus, stating that people should only leave the house to work where it is “absolutely necessary”. To help protect the NHS and save lives, the majority of us are replacing our desktops with laptops, our offices with online platforms like Skype and Zoom. Before the coronavirus pandemic, remote working was already on the rise around the world. In fact, research tells us that more than two-thirds of us have done it. However, there’s a significant difference between working flexibly one or two days a week and spending all our working (and living) hours within the confines of our home.
Apr 6, 2020
The Coronavirus Business Interruption Loan Scheme (CBILS for short) provides SMEs experiencing revenue loss and cash flow disruption due to the COVID-19 pandemic with access to financial support of up to £5 million. The scheme is part of the UK government’s wider temporary and targeted support for businesses package and is being administered through loans, overdrafts, invoice finance and asset finance. While the CBILS is designed for SMEs, there is also support available for larger companies via the COVID-19 Corporate Financing Facility. Through this scheme, the Bank of England will buy short term debt from larger firms that are experiencing a short-term funding squeeze, enabling them to finance their short term liabilities.
Apr 1, 2020
Dear Rishi Sunak MP, On behalf of the UK’s SMEs, entrepreneurs, and sole-traders, we want to thank you and your team for your tireless efforts to minimise the impact of COVID-19 on business. It’s a really tough time for business owners across the country, and the economic packages you’ve presented to date go a long way to mitigating their worries.
Mar 27, 2020
It’s a challenging time for SMEs around the world as the economic impact of the Coronavirus pandemic starts to unfold. Global shares have taken a hit, interest rates have been cut and the OECD has downgraded its growth forecasts as factories close to help contain the virus. On Friday 20 March, Rishi Sunak, the Chancellor of the Exchequer, announced the first set of measures to help businesses impacted by COVID-19. The government has pledged support for businesses through the Coronavirus Business Interruption Loan Scheme and other temporary and targeted measures. These are designed to help companies manage cash flow during this difficult period through unlimited loans and guarantees. An initial £330 billion of guarantees will be made available, which is equivalent to 15% of UK GDP. Bear in mind some aspects of business support are devolved and differ in Scotland, Wales and Northern Ireland. Full information and relevant links can be found on the government's support for businesses page.
Mar 23, 2020
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