We know that every business is being affected by the outbreak of Coronavirus. It is changing the way we operate and communicate with each other. We have put together some useful resources to help manage these uncertain times.
This is a fast-moving area so, although we believe this is correct as at 20 March 2020, make sure to get in touch if you’d like to check our own position.
Remember too that we offer advice not just as Scottish lawyers but also on the law of England and Wales. So, if your business crosses the border, we can help with both bits.
Both the UK and Scottish governments Government have set out a financial package to support businesses. These include:
- Grant funding of £25,000 is available for retail, hospitality and leisure businesses with property with a rateable value between £15,000 (England & Wales)/£18,000 (Scotland) and £51,000.
- The Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank.
- Retail, hospitality and leisure business will get 100% rates relief (for occupied properties) and all non-domestic properties in Scotland will receive a 1.6% rates relief.
- Small firms receiving the small business bonus or rural relief will be eligible for a £10,000 grant.
The financial support available to businesses is being continually assessed by the UK and Scottish Governments. You can stay up to date with this information on the Scottish Governmentand UK Governmentwebsites.
GUIDANCE FOR EMPLOYERS
The Government websitecontains valuable information for employers, including what you should do if an employee is off work and what you should be doing as an employer to ensure the wellbeing of staff. ACASalso provides useful advice for changing working practices to comply with government guidance, including information on flexible working and using technology to replace face-to-face meetings.
The Business Gateway Fifeare offering advice and resources to Scottish businesses. They are providing support in putting together a ‘Business Continuity Plan’ to help manage areas such as cash flow, supply chains and employee management. Their website also details a number of other useful resources for managers and employees.
For additional information, you can call the Scottish Government helpline on 0300 303 0660 which has been launched to help businesses.
WE ARE HERE TO HELP
We are here to support you and your business. Get in touch with us by phone (01383 721621) or email one of our teamand we will be happy to offer any advice or assistance.