Coronavirus (COVID-19) Business Briefing from Barnet Council

New Discretionary Grant Fund
As many of you will already know, the Government has set up a discretionary fund to accommodate certain small businesses outside the scope of previously announced grants funds.

The Government published guidance for Local Authorities about the new scheme on the 13 May, and sent a letter with Barnet’s allocation of the funding earlier this week. Since then the Council has been working hard to deliver a fair and effective grants programme, with a goal to go live as soon as possible.

We will share details about eligibility and the application process as soon as they are available via this newsletter. Alternatively, you can check for updates on the council’s COVID-19 webpage for business.
Council-led financial support programme
Working with the Federation of Small Businesses (FSB) the council is offering a free Financial Planning Support Programme, to help businesses plan their finances during the pandemic. If you have a business in need or you’re an accountant who wants to offer your services, learn more and find out how to apply.

Bounce Back Loans
The Bounce Back Loan (BBL) Scheme targets small and micro businesses in all sectors, providing loans from £2,000 to a maximum of £50,000. Visit the British Business Bank’s website for information.

Growth Hub factsheets
The London Growth Hub has published two comprehensive factsheets in line with the latest guidance published by Government this week. The two factsheets cover: The UK Government’s COVID-19 Recovery Strategy and Working safely during COVID-19.

If you haven’t already, be sure to check out the other factsheets and resources that are available on the London Growth Hub.

Growth Hub ‘COVID-19 Business Help Series’
The London Growth Hub is also offering a series of free webinars, to help businesses plan and cope during COVID-19. See upcoming events and register here.

Business rates revaluation postponed
The Government has announced that the revaluation of business rates will no longer take place in 2021 to help reduce uncertainty for firms affected by the impacts of coronavirus.

West London Business helpline
As a reminder, West London Business is providing a dedicated COVID-19 website and helpline for businesses in Barnet and other west London boroughs where you can find answers to your queries or speak with an advisor.