Grant McKnight Blog

Kickstart scheme a ‘saving grace’ for struggling businesses Businesses looking to boost youth employment via the Government’s Kickstart scheme are encouraged to continue registering their interest through Greater Birmingham Chambers of Commerce,  writes Claudia Congrave . The Kickstart scheme was announced in July 2020 by Chancellor Rishi Sunak in a bid to help unemployed young people between the ages of 16-24 source six-month work placements. The placements are fully funded by the Government, with employers receiving a grant of £1,500 to help set up and train the employee and a further £6,500 in instalments to cover the employment costs. Companies interested in having less than 30 placements can submit their expressions of interest to the Chamber. The placements need to meet the following criteria: Six months in length At least 25 hours per week (can offer additional hours at company expense) Paying at least the national minimum wage through PAYE Paying the statutory employer duti...

Closed businesses are in line for grants of up to £9,000 in the latest effort to keep companies afloat  through another lockdown.   Mr Sunak has revealed new measures totalling £4.6bn to help struggling firms after lockdowns were announced in England and Scotland yesterday.   The latest support package also includes a £594m discretionary fund for other businesses that might be affected, an additional £1.1 billion in discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and extension of furlough scheme.   The announcement comes after Greater Birmingham Chambers of Commerce, supported by more than 50 regional stakeholders and business leaders, wrote to the Chancellor urging him to provide enhanced grant support for impacted businesses (find out more  here ).   Paul Faulkner  (pictured) , chief executive of Greater Birmingham Chambers of Commerce, said: “We are relieved that the Chancellor has answe...

Birmingham businesses can now apply for the latest round of Covid grants. The grants, available from Birmingham City Council, are for those severely impacted or required to close due to Covid measures before and during lockdown in November, alongside sector specific support for nightclubs and adult entertainment venues. In order to apply, businesses will need to create a BRUM Account ( click here ), which helps Birmingham City Council to speed up processing of applications and payment of future grants under the new three-tier system. It will also give businesses access to services (such as their business rate account) online.   To access the grants businesses complete one short form, find out more and apply  here . The grants available for businesses based in the Birmingham City Council area include: Grants worth between £984 per 28 days to £2,100 per 28 days for businesses in the hospitality, hotel, bed and breakfast and leisure sectors affected by the Tier two local restrict...

The accountants of C OVID-19                     At the beginning of the second lockdown, the Business Finance Guide met with some of Britain’s most unlikely heroes - the accountants. They recounted their experiences, from receiving the first calls from clients following the PM's address to the nation back in March, to giving advice on rates relief, VAT deferral, furlough and the coronavirus loan schemes. They also described what it truly means to be a trusted partner to a client. The Cavern Club, Liv erpool From a love of the Beatles to the building of a global brand. All part of a journey that started from a conversation with an accountant. We met with Bill Heckle, director of the Cavern Club in Liverpool. He told us how his business has grown hand-in-hand with Liverpool’s own economic development and described what impact the coronavirus pandemic has had on his famous music venue. Busi...

  Region’s leaders slam new Covid measures West Midlands leaders have expressed their anger at the Government’s handling of a new three-tier Covid-19 system – as tighter restrictions were placed on the region. Birmingham, Solihull, Sandwell, Walsall and Wolverhampton have all been categorised as ‘high risk’, the second of the three tiers. Under new measures, residents will, from Wednesday, be banned from mixing with other households in any indoor setting, including hospitality venues. MPs are expected to debate and vote on the measures today. While Chancellor Rishi Sunak last week announced a package of support for businesses forced to close due to tighter measures, no new support has been made available to firms in ‘high risk’ category areas. Disappointed and frustrated Greater Birmingham Chambers of Commerce has joined West Midlands mayor Andy Street and Birmingham City Council leader Cllr Ian Ward in criticising the Government’s handling of Covid restrictions. Chamber chief exec...

Eating out scheme starts today 13 July 2020 From today businesses can register for the Government’s “Eat Out to Help Out” scheme. Under the scheme, announced by the Chancellor in his Economic Statement, diners receiving a government-backed discount on food and non-alcoholic drinks to eat in at participating venues. It will be available Mondays to Wednesdays from 3 to 31 August 2020. Diners will receive a 50 per cent discount, up to a maximum of £10 per person, with the venue able to claim back to money from the Government. To participate, firms must sell food for immediate consumption on the premises and have been registered as a food business with the relevant local authority on or before 7 July. Find out more and register  here . Henrietta Brealey  (pictured) , director of policy and strategic relationships said: “It is a novel policy but we are looking forward to seeing the results. The hospitality industry is traditionally busiest just before and during the weekend and und...

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. Fo...

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...

Business demands clear timelines on reopening 26 May 2020 Businesses need clearer timelines from Government to be able to prepare for re-opening, business leaders said today. It follows Prime Minister Boris Johnson’s announcement that all non-essential retailers can open their doors from 15 June, with car showrooms and outdoor markets given the green light to re-open from 1 June. Retailers will be required to follow Government guidance aimed at making their workplaces ‘Covid-19 secure’ - click  here  for more information. While clarity on timeframes has been welcomed in some quarters, many retailers have been left frustrated after working towards the 1 June re-opening date that was initially mooted by Mr Johnson in his briefing on 10 May. Last week, Greater Birmingham Chambers of Commerce backed  calls from retail industry leader Tony Elvin , general manager of Touchwood in Solihull and vice-president of Solihull Chamber for clarity on the Government's plans for reopening...