As a member of the Institute for Turnaround, I am familiar with many of the issues currently faced by businesses across our region but perhaps never on the scale we are seeing at the moment.
However, there is a lot of support being offered and prepared by central government, the Bank of England, UK Clearing Banks, the British Business Bank and others.
Please act fast, engage with your key stakeholders early and hopefully we will all pull out of this very quickly.
A useful summary of current Government helplines/websites is below:
– Full list of the Government’s current support package, including SSP relief; business rates holiday, grant funding and more; www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses
– British Business Bank – Business Interruption Loan Scheme (Government backed loans up to £5m) – 0114 206 2131 / 0203 772 1340. Details of lenders participating and eligibility on attached link: www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/
– HMRC – Tax Helpline for Time to Pay Arrangements (defer your PAYE or VAT bill) – 0800 0159 559. www.gov.uk/guidance/coronavirus-covid-19-information-for-individuals-and-businesses-in-wales
For support from your Bank, start with your relationship manager but many key lenders also have dedicated helplines/websites as follows:
– HSBC COVID-19 helpline – 0800 0121 614. www.business.hsbc.uk/en-gb/gb/article/coronavirus
– Barclays – Dedicated helpline 0800 1971 086. www.barclays.co.uk/business-banking/
– NatWest – Customer helpline focused on Coronavirus – 0345 711 4477. www.business.natwest.com/business/support-centre/service-status/coronavirus.html
– RBS – Customer helpline focused on Coronavirus – 0345 600 2230. www.business.rbs.co.uk/business/support-centre/service-status/coronavirus.html
– Lloyds – 0345 072 5555. www.lloydsbank.com/business/coronavirus.html
– Santander – 0800 731 6666. www.santander.co.uk/personal/coronavirus
In addition, I am offering free advice and support to business over the phone where possible.
Please contact me on the number below if you have concerns about the impact on your business or would like help dealing with loan applications/forecasting, HMRC or other key supplier and stakeholder negotiations.
Chris Adlam FCCA
Director of Business Growth Services
m: 07786 166927
t: 01603 703177