Support available to business
I know that this is a particularly worrying time for people in business locally, particularly for those in the retail, leisure and entertainment and events sectors.
Firstly the furlough scheme is being extended through the month of November so that employers are hopefully able to retain staff until this is over.
This means that employees can retain their job, even if their employer cannot afford to pay them, and be paid at least 80% of their salary up to £2500 a month.
Employers small or large, charitable or non-profit are eligible and because more businesses will need to close, they will now be asked to pay just National Insurance and Pensions contributions for their staff during the month of November – making this more generous than the support currently on offer.
From the end of November a new scheme will begin and last through the winter.
Businesses will be able to choose between two types of Job Support Scheme – Open or Closed, depending on whether they are experiencing reduced demand or have been forced to close.
Moreover, any employee who was previously furloughed but retained until the end of January will be entitled to a £1,000 Job Retention Bonus – and they can also benefit from the Job Support Scheme.
In addition to this, there will be grants available for business premises which are required to close of up to £3,000 per month.
All the up-to-date information about the support available to businesses is being made available HERE.