Business News in Pembrokeshire. Graphic Designers, Printing & Corporate Branding

Covid 19 – Financial Support For Micro Businesses in Pembrokeshire

The government has agreed upon a whole host of grants and loans to small businesses in Pembrokeshire to keep them running through these difficult times. Here are some of them –

Small Business Grants – Non Hospitality and Leisure

If you have a business premises that qualifies for small business rates relief or rural rates relief you qualify for this grant of £10,000. All you have to do is go to the Pembrokeshire County Council website and fill in an application form. It takes about 15 minutes to do.

In England this grant is being sent out automatically to business owners. However, in Wales you have to apply to your local authority to get it.

Hospitality and Leisure Grant

If you have a Hospitality or leisure business premises that qualifies for small business rates relief or rural rates relief you qualify for this grant of £25,000. All you have to do is go to the Pembrokeshire County Council website and fill in an application form. It takes about 15 minutes to do.

As mentioned in the Small business grants section above, in England the grant is sent out automatically. However, in Wales do you have to apply for it.

Furloughing Employes in Pembrokeshire

To help businesses retain employes through these hard times the Government will pay 80% of a furloughed employee wages up to a maximum of £2500 per month.

You must give the person you intend to furlough written notice that you are going to do this. It is up to you as an employer if you want to make up the remaining 20% of employee’s wages. The choice is yours.

Remember, if your business is a limited company you can furlough yourself to claim the gran yourself.

Self Employed Income Grant

This is a grant to all self employed people who have a taxable trading profit of less than £50,000 in the last financial year. Or an average trading profit of less than £50,000 over the last 3 years. The term trading profit however, can mean many things. So here is what I know at the moment. Your taxable trading profit does not include rental income.

If you have rental income or indeed earnings from employment the combined total must be less than your trading profit.

Government Back Loans

These are loans of up to £50,000 with no interest or repayments made in the first 12 months. The loans are administered through the commercial banks and are 100% backed by the government. This means you should not have to provide any security to the bank to get them.

 

I hope all this information is of use to readers. I have written it because of the number if times I have spoken to customers who are not aware of the government support available to micro business in Pembrokeshire.

If you need printing of website design in Pembrokeshire please call Modern Print & Design today on 01646 682676. Alternatively follow this link to send a message.