Changes to state aid rules for loan schemes and £20m new grants for SMEs
THE EU has extended its state aid temporary framework to all small companies (less than 50 employees and less than EUR 10 million of annual turnover and/or annual balance sheet total), even if they were in “financial difficulty” on 31 December 2019.
This means that all businesses in this category can apply to the Coronavirus Business Interruption Loan Scheme (CBILS). This extends possibilities to support more small companies, including those with particular financial structures, such private equity backed firms, or those who were in a growth phase and so might have appeared to be in financial difficulty on paper.
This means that all businesses in this category can apply to the Coronavirus Business Interruption Loan Scheme (CBILS). This extends possibilities to support more small companies, including those with particular financial structures, such private equity backed firms, or those who were in a growth phase and so might have appeared to be in financial difficulty on paper.
£20 million in new grants to support SMEs in England
The UK government has announced £20 million of new funding to help SME’s in England recover from the effects of the Coronavirus pandemic. Small and medium sized businesses will have access to grants of between £1,000 - £5,000 to help them access new technology and other equipment as well as professional, legal, financial or other advice. The funding has been allocated to Growth Hubs within each Local Enterprise Partnership (LEP) area in line with the current European Regional Development Fund (ERDF) Programme.
Eat Out to Help Out Scheme guidance
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From 3 to 31 August, get a 50% discount when you eat-in at restaurants that are registered. |
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Find out how to claim the reimbursement for discounts given to diners with scheme. |
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New examples of how to calculate the discount. |
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Register for the scheme here. |
