Here are few quick updates that might be of interest to you.
RECOVERY LOAN SCHEME
Applications for the Recovery Loan Scheme will open on April 6th. This scheme is open to business that are still trading or were impacted by Covid-19 and are viable. If you received any previous government loan or funding support as part of the Coronavirus Funding support scheme, you ARE still eligible for this loan as well. This loan covers amounts from £25,000 – £10M. It will be offered again by most banks and is expected to have an interest rate of 6% for a 6-year loan term. Please check the terms and conditions carefully. Unlike the bounce back loan, the government are guaranteeing only 80% of this loan, please be aware if personal guarantees are asked for of Limited Company Directors. As always, I am happy to help and advice if you need me. Take this quick quiz to see what funding you could get.
Aimed at supporting businesses in some of the worst affected industries this grant is for any in the hospitality, leisure, personal care, accommodation and non essential retail sectors. These grants are available from April 1st. As with the previous grants’ schemes, this is an extension of the government support for business and can be applied for through your local council as normal. This grant specifies that you must be paying business rates to meet the eligibility criteria. As always, my advice is to apply apply apply and get what you can while you can!
KBS GROWTH AND CHANGE
Last year, we ran our Business Builder Course, specifically aimed at supporting new business owners to take the right steps when setting up their new enterprises. We are relaunching the course again this year at the end of this month. The business builder course provides new entrepreneurs with the skills, knowledge and confidence to build and grow sustainable businesses in 3 short weeks with 1-2-1 and small group sessions. We cover everything from choosing the right business structure to policies and procedures, to hiring and financial forecasting for growth. The first course of 2021 is on sale for £24.99. If you know anyone who would benefit from this training please do let them know. Candidates can send an email direct to firstname.lastname@example.org to be scheduled on the first available date.