Finance & Cashflow

In these unprecedented times, cash flow and finances are often the main concern to most businesses.

In response to the unprecedented times we find ourselves in, the government has released a full range of business support measures for UK businesses, those who are self-employed and employees.

This page helps businesses find out how to access the support that has been made available, who is eligible, when the schemes open and how to apply.

If you need any help or guidance with Coronavirus financial support, please talk to us and we will assist you wherever we can

Use our new Finance Finder

Our new Chamber Finance Finder will help you get matched to relevant funding opportunities across loans, equity and grants.

 

Click Here

Local Authority Schemes:

coronavirus financial support phone

Hereford Towns Fund

More information

Hereford has been successful in its bid for funding from the Government’s Towns’ Fund. A total of £22.4 million has been secured for the development of up to 15 transformational projects included in the city’s ‘Town’s Investment Plan’ (TIP).

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Worcester Towns Fund

More information

Worcester is to receive £19.6m to deliver long-term economic growth for the city and support recovery after COVID. The award follows the submission of a successful bid by Worcester City Council to the Government’s £3.6 billion Towns Fund.

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Employment & Benefit Support

Information about Coronavirus and claiming benefits

National Government Schemes:

coronavirus financial support phone

Financial Support Finder

More information

The government ‘Finance Finder’ tool will ask you to fill out a simple online questionnaire, which can take minutes to complete. You will then be directed to a list of all the financial support you may be eligible for.

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The Coronavirus Job Retention Scheme

More information

The Coronavirus Job Retention Scheme (or ‘Furlough Scheme’) has been extended until 30 September 2021 with employees receiving 70% of their current salary for hours not worked and further economic support announced.

People and businesses across the UK are being provided with additional financial support as part of the government’s plan for the next phase of its response to the coronavirus outbreak.

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Statutory Sick Pay

More information

For businesses with fewer than 250 employees, the cost of providing 14 days of Statutory Sick Pay per employee will be refunded by the government in full. This will provide 2 million businesses with up to £2 billion to cover the cost of large-scale sick leave.

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Time To Pay

More information
A dedicated helpline has been set up to help businesses and self-employed individuals in financial distress and with outstanding tax liabilities receive support with their tax affairs. Businesses may be able to agree a bespoke Time to Pay arrangement.

Business Helpline: 0800 024 1222

Self-employed Helpline: 0300 456 3565

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Self-Assessment Income Tax Deferral

More information

If you’re self-employed, Income Tax payments due on 31st January 2021 under the Self-Assessment system will be deferred. Instead of paying the full amount by the end of March 2021, you can make up to 11 smaller monthly instalments, interest free. All instalments must be paid by the end of March 2022.

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Business Rates Holiday for Retail, Hospitality and Leisure Businesses

More information

A 100% business rates holiday for the next 12 months for all retail, hospitality and leisure business, no matter what their rate-able value is, will be available.

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Small Business Bank Loans

More information

A number of private lenders are also making funds available to small businesses impacted by coronavirus, including £2billion from Lloyds Banking Group and £5billion from NatWest and HSBC.

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Funding for the Arts Sector

More information

Arts Council England has announced a cash injection to help artists, venues and freelancers in the cultural sector. The package includes £20m for individuals (made up of grants of £2,500 each), £90m for National Portfolio Organisations – venues and others that get annual funding – and £50m for organisations outside that scheme.

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Not sure what you are eligible for?

This handy tool will tell you in minutes
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Further Advice

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Insurance advice for businesses

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IR35 Delay Advice

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Suspension of Levy bills for the construction sector

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Small Business Service

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Business rates revaluation postponed

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Companies House guidance

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Changes to Insolvency Laws

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Advice for businesses trading internationally

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Protection from eviction for business tenants

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Employment & Benefit Support

Coronavirus News

Herefordshire Council Covid-19 Recovery Plan

Herefordshire Council Covid-19 Recovery Plan

Since April 2020, Herefordshire Council has distributed over £100m of government recovery support to Herefordshire-based businesses. In July 2021 the council launched a £6.1m programme of activity to support economic and wellbeing recovery. Some of the schemes...

Business confidence tested as furlough scheme closes

Business confidence tested as furlough scheme closes

Last week saw the end of the Furlough Scheme, which has protected millions of jobs over the duration of the pandemic. Paying 80% of workers’ wages at its highest point with nearly 9 million employees signed up, the scheme was part of the largest business support...

A summary of the Covid-19 winter plan

A summary of the Covid-19 winter plan

Thanks to the success of the UK’s vaccination programme, data has shown that the link between cases, hospitalisations and deaths has weakened significantly. As part of the Covid-19 winter plan, the government has introduced a ‘Plan A’ and ‘Plan...

Newsletter Sign up

If you’d like to be informed of how we are helping businesses, or hear of our events you can get involved with, sign up to our newsletters here:

If you’d like to speak to someone about any of the government schemes or support available to you, please contact:

01905 673600 and speak to the Membership team