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Where to find COVID-19 business advice

There are two critical issues facing businesses on a macro level in the UK at the moment – Brexit and COVID-19. Although negotiations are continuing, Brexit has taken a back seat to COVID-19. The impact of the pandemic has been so quick and so far-reaching that it has left many businesses at a loss as to where to turn to for advice.

In the UK there a number of organisations that have been offering advice and support going through the crisis. We list the key ones here and summarise what they’re doing to help.

It is always worth remembering that there is also a wealth of advice available from the UK’s independent financial services providers.

Here’s the list:

  • Chambers of Commerce
  • CBI
  • Institute of Directors
  • Federation of Small Businesses
  • UK Finance
  • British Business Bank
  • HM Government
  • Growth Hubs and Local Authorities
  • Independent financial advice

Chambers of Commerce

The British Chambers of Commerce is signposting various sources of support for businesses impacted by COVID-19 on its website. Signposting includes links to official UK government guidance, where to find, and more importantly how you can access, government support, NHS guidance and support targeted for employers and employees.

BCC is also running a COVID-19 Business Impact Tracker. This is a survey of its members on how their businesses have been hit by COVID-19 and provides a useful overview of the economic impact of the pandemic on a national scale.

You can find out more here.

CBI

The Confederation of British Industry has a coronavirus hub which includes a daily webinar on relevant updates to help and support.

Institute of Directors

The IoD is the UK’s leading voice for business leaders, campaigning on a wide range of issues such as trade, skills, and corporate governance.

The organisation has set up a support hub.

The hub provides a range of resources, support and advice for company directors. You can access webinars, online events and FAQs on a range of COVID-19 related topics including wellbeing and working remotely, learning and development, information, advice and government support.

Federation of Small Businesses

If you are an SME or self-employed then the Federation of Small Businesses has coronavirus advice, support and signposting tailored to your needs.

The FSB is publishing links to the latest advice and government schemes relating to COVId-19 and its material is under constant review and is updated regularly.

UK Finance

As the situation with Covid-19 in the UK evolves rapidly many businesses have questions about how the banking and finance industry will be able to support them to access the finances, support and guidance they need.

UK Finance, a lobby organisation for the UK banking industry, aims to provide businesses with up to date details of the support available, whether in the form of business loans or assistance with mortgage payments, and where to go for advice. Click here for more details.

British Business Bank

The British Business Bank is responsible for administering the Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus Large Business Interruption Loan scheme (CLBILS).

The Coronavirus Business Interruption Loan Schemes and Fund are designed to support UK businesses that are losing revenue and seeing their cashflow disrupted as a result of the COVID-19 outbreak. The Bank has a list of the accredited lenders for both schemes, now standing at over 50 lenders.

Government

The UK government website has everything you will need to know about COVID-19 and how to get the support you need to shield your business from its impact.

We don’t think any further explanation is needed.

Growth Hubs and Local authorities

There is a network of 38 Local Enterprise Partnerships in the UK. Their Growth Hubs are designed to deliver business support and guidance. Naturally, their current focus is on supporting business through the COVID-19 crisis.

Each of the Growth Hubs provides support and signposting for access to finding and grants in their local authority areas. Select your region from the map to be taken to your local growth hub website to access the support available in your area.

Financial services providers

Finally, last but not least on this list are the UK’s independent financial services providers such as Pegasus Funding Solutions. It offers bespoke advice on a client-by-client basis with an extensive industry knowledge that enables it to create innovative solutions that may not be immediately obvious. Pegasus works with businesses at all stages of growth to ensure they are ready to access funding.

There are some alternatives and additions to the government support that is available that are worth exploring.

Please call the team today for a free consultation on 0203 327 0567 or email [email protected].

We will call you back immediately.

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