Guide East Devon residents Coronavirus update - 1 May 2020

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10. Business update

East Devon District Council has paid more than £35m in grants to support 2999 local businesses during the coronavirus pandemic. Currently, 51 organisations have declined the grant. In the event that your business does not wish to accept the grant, please complete the grant refusal form because confirmation is needed when a grant is declined. Government has issued new advice on these payments, confirming that grants are taxable when a business is in profit.

Government launches the Bounce Back Loan scheme to address difficulties faced by small and medium sized businesses on Monday 4 May. It will provide 100% guaranteed loans for a period of up to 6 years between £2000 and £50,000, with no repayments fees or interest in the first 12 months. Businesses which have claimed a Coronavirus Business Interruption Loan Scheme (CBILS) cannot take a Bounce Back Loan, but loans can be transferred to the new scheme.

There are still places available for FREE training with online webinars to help you respond to the current challenging circumstances. You can book to increase online sales  and maximise business opportunities remotely, with more webinars to be announced.