News direct from OxLEP

Original article: https://www.oxfordshirelep.com/coronavirus-covid-19

 

Now more than ever, it’s really important that we reiterate to our business community – and indeed the wider, general public in Oxfordshire – that our economy remains a strong and resilient one. It’s an economy that is well-positioned to react in a measured way to the challenges brought about by the Coronavirus (COVID-19) pandemic.

We recognise that Coronavirus is – and will very likely – cause concern and possible disruption to businesses of all sizes for the foreseeable future. However, we are determined to play our role in ensuring that the county’s businesses are able to run as efficiently as possible and remain productive.

Oxfordshire remains a great place to run a business. Our economy is undoubtedly a strong and adaptable one and – as a county – we have an excellent track record of supporting small businesses to survive beyond five years, well-above the UK average.

It is also important that we – as a local enterprise partnership – continue to communicate with our business community and pass on your views and concerns to Government, as well as providing practical support where we can.

Government support for businesses
We will continue to work with Government to ensure that our business community can be supported as best as possible during this challenging period.

There are a number of resources that have been made available by Government. We will continue to signpost our business community to these resources, helping you to make positive decisions during this time.

 Business support measures announced by the Chancellor of the Exchequer: 

Latest announcement (27 March): Self employment income support scheme

  • A Coronavirus Job Retention Scheme
  • Deferring VAT and Income Tax payments
  • A statutory sick pay relief package for SMEs
  • A 12-month business rates holiday for all retail, hospitality and leisure businesses in England
  • A small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
  • A grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
  • The Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
  • A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
  • The HMRC Time To Pay Scheme

More information on these package of measures 

Details on the Coronavirus Business Interruption Loan Scheme (CBILS)

Details on the Coronavirus Job Retention Scheme

Specific guidance for businesses:

Enter the Government’s Business Support website

COVID-19: Guidance for employers

COVID-19: Guidance for employees

COVID-19: Support for businesses

COVID-19: Self-employment Income Support Scheme (SEISS)

Self-employment Income Support Scheme FAQs

Innovate UK: COVID-19 business support 

Specific guidance around education and apprenticeships:

Guidance and advice about coronavirus (COVID-19) in schools and other educational settings for staff, parents and carers, pupils and learners

Guidance for apprentices, employers, training providers, end-point assessment organisations and external quality assurance providers

Maintaining education and skills training provision: further education providers

Specific guidance on social interaction:

Guidance and advice about coronavirus (COVID-19) in schools and other educational settings for staff, parents and carers, pupils and learners

COVID-19: Number of cases and risk in the UK

COVID-19: Guidance for businesses and other venues on social distancing measures

What we are doing during the Coronavirus outbreak:
We want you to know that, first and foremost, we are here for you – the Oxfordshire business community.

We are currently evaluating our own delivery and business support plans to ensure that we can provide you with the guidance that you need. In terms of specific support and discussion-led events, we are in the process of creating a series of ‘digital’ business Q&As, which we will announce in due course.

We will continue to provide you with further information via the ‘News’ section on our website and offer updates through vlogs and blogs too.

Business intelligence:
In addition, it is also important that we – as the local enterprise partnership for Oxfordshire – continue to communicate with our business community and pass on your views and concerns to Government.

We will continue to work with Government as best we can to ensure that our business community can be supported during this challenging period.

Tell us your views