Grant McKnight Blog

Barclays has today launched a toolkit to help small and medium sized enterprises (SMEs) across the UK get back on their feet as they navigate the uncertainty created by coronavirus. The ‘Barclays Back to Business’ programme has been designed in partnership with the Cambridge Judge Business School and is open to all UK SMEs, in addition to the bank’s one million small business customers. With nearly two thirds of businesses* (65 per cent) reporting that they will change their business practises in response to coronavirus, the bank hopes that the programme will provide SMEs with the support they need to adapt. The toolkit has been piloted with one hundred businesses from different sectors over the last few weeks ahead of a full trial launch on 22 June, with everyone from farmers to hairdressers trialling the programme. The kit is designed to help business owners assess the overall health of their enterprise, and create a tailored resilience plan for challenging periods. It is packed with

Here's are today's Government support updates and announcements. Plus our Feedback form which we'd love you to complete and share. HM Treasury (HMT) coronavirus business loan scheme statistics Latest figures for Bounce Back Loans show that as of the 7th June 782,246 applications have been approved totalling £23.78bn. HMT management information about the Coronavirus Business  Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS) and Future Fund are also available. See  today's updated HM Treasury publication  for the latest figures. Parents returning to work after extended leave eligible for furlough People on paternity and maternity leave who return to work in the coming months will be eligible for the government’s furlough scheme, HM Treasury announced today. This will only apply where employers have previously furloughed employees. More details of the change will be included in updated guidance, published on 12 June. For furthe

Would you swap to an electric car if they were £6,000 cheaper? Boris may slash the price of zero-emission vehicles for those who ditch petrol or diesel Government could announce a scrappage scheme for only electric vehicles Motorists who scrap an old petrol or diesel car would get £6,000 off a new EV Plans could be announced next month, according to report from The Telegraph  It mirrors plans in Germany that are part of a €130bn Covid-19 stimulus package  EV buyers there will receive an industry and government-backed subsidy of €9k Motorists could soon be given £6,000 by the government if they agree to scrap their existing petrol or diesel car and buy a new electric vehicle, according to reports. The plans, which could be announced as early as July, would be part of Prime Minister Boris Johnson's plans to relaunch the economy - following in the footsteps of a similar proposal set out in Germany's €130bn coronavirus recovery plan. It could mean that the price of the British-buil

Those struggling to pay their mortgage due to coronavirus will be able to extend their payment holidays for three more months, or start making reduced payments, the financial regulator has confirmed. The Financial Conduct Authority (FCA) published draft guidance last month with proposals for helping those with mortgages, including extending the application period for an initial mortgage holiday until 31 October 2020, so that customers who haven't had a payment holiday and are experiencing financial difficulty would be able to ask for one up to this date. The measures proposed have now been confirmed after a brief consultation and the guidance will come into force from this Thursday (4 June). What the FCA expects mortgage lenders to do Here's a full rundown of the new rules being put in place by the FCA: If you've not had a mortgage payment holiday, you'll have until 31 October 2020 to apply. Customers who are making repayments now but get into financial difficulty later

Firms urged to move fast on ‘discretionary’ grants 01 June 2020 Businesses who may be eligible for the Government’s new Discretionary Business Grant scheme are being urged to act fast. The scheme is aimed at businesses and charities that did not qualify for existing coronavirus small business grant schemes, such as those in flexible working space which do not have their own business rates assessment or those receiving charitable business rates relief. The deadline to apply to East Staffordshire Borough and Solihull Metropolitan Borough councils is this Sunday, while the deadline for Birmingham City Council is Sunday 14 June. The scheme is also expected to go live for firms in Lichfield and Tamworth, Stafford and Cannock Chase later this week, with more details to be published on local authority websites shortly. There are three levels of grant available - £25,000, £10,000 or any amount under £10,000. Each local authority has some discretion over how they administer the scheme. As a res