Below are some tips as well as some guides for small businesses to survive in the Covid 19 Corona Virus Emergency.
Tower Hamlets Council link for Business Support – https://www.towerhamlets.gov.uk/lgnl/business/business_support_and_advice/business__enterprise/COVID_19_Business_Support.aspx
5 ways to make sure your business is Coronavirus ready (Save the High Street)
The effects of the Coronavirus have already had a dramatic impact on the way we live, leading to a lot of uncertainty and fear for the future.
Many people are self-isolating in their homes in an attempt to ‘flatten the curve’ and reduce the risk of passing the virus on to their loved ones. Vulnerable members of the community, such as the elderly and immunocompromised, are at a higher risk and heavily rely on community support for basics such as access to food, supplies and companionship.
Being able to cater to the needs of your community, no matter what position they’re in will really make your business shine. You have something that your competitors don’t; the chance to position yourself as a pillar of support to your local community. This is especially important now when people are isolated and worried.
Although people love online shopping for the convenience (and now necessity), they’re also fully aware of the importance of supporting independent businesses and are increasingly led by ethics instead of price.
By implementing simple tips, like those outlined below, you can cater to the needs of your local and global community, giving your business a firm foundation to not-only survive this period but to thrive.
For more information: https://savethehighstreet.org/coronavirus-tips/
Recent government updates that impact Small Businesses
20th March 2020:
- Cafes, pubs, bars, restaurants, nightclubs, theatres, cinemas, gyms and leisure centres have been told to close as they are believed to encourage social mixing, acting against the current imperative for social distancing
- Cafes, pubs, bars and restaurants can offer takeaway services and are allowed to do so before notifying local authorities of the change of business use
- These restrictions will be reviewed month-by-month.
- All UK businesses are eligible for the Coronavirus Job Retention Scheme. This scheme addresses employees not working but kept on the payroll rather than laid off. The scheme covers 80% of salary up to £2,500 pm. It is back-dated to 1st March 2020 and is in place for an initial three months, though may be extended if necessary.
- Loans will be interest-free now for 12 months as part of the Coronavirus Business Interruption Loan Scheme. Consult your regular bank from 23rd March 2020; check this link to see if your bank is part of this scheme (the main banks are).
- The next quarter of VAT payments has been deferred; repayment will be due by the end of the financial year
23rd March 2020:
Retail categories that may stay open:
- Restaurants, cafes for food delivery and takeaway only
- Supermarkets and other food shops
- Market stalls offering essential retail
- Health shops
- Pharmacies
- Newsagents
- Corner shops
- Post Offices
- Bicycle shops
- Home and hardware stores
- Banks
- Pet shops
- Petrol stations
- Car rentals
- Laundrettes and dry cleaners
Also a place of worship and cinemas, theatres and concert halls may stay open for live streaming of performance of service or performance by a small group (with social distancing).
Commercial tenants missing rent payments
Commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction […] no business will be forced out of their premises if they miss a payment in the next three months. As commercial tenants will still be liable for the rent after this period, the Government is also actively monitoring the impact on commercial landlords’ cash flow and continues to be in dialogue with them.
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