Extraordinary Times

Business as usual staying at home

The next few weeks and months are going to be challenging for all of us. These are extraordinary times and we are here to help. We understand because we are a small business ourselves.

We have the same problems and issues, some not so bad and others possibly harder to resolve. At the end of the day, we are all in this boat together. We are here for you so get in touch.

 

We are still waiting for details of the assistance to be provided to the self-employed. More on that later.

 

Here are some useful links for claiming small business grants from your local council. Select your area:

 

Highland Region

https://www.highland.gov.uk/downloads/file/22478/small_business_grant_-_application_form

 

Moray

http://www.moray.gov.uk/downloads/file132681.pdf

 

Orkney Islands Council

https://www.orkney.gov.uk/Council/C/coronavirus-covid-19-information-for-businesses.htm

 

Other Councils

https://www.mygov.scot/non-domestic-rates-coronavirus/

 

 

You will have your own specific issues but below are some key generic points (some won’t apply to you) We have a some useful help sheets for you which will give you further guidance.

CLICK FOR HELP SHEETS

 

  1. Check out the Scottish government website for guidance relating to Scottish businesses. Much of the national coverage only applies to England. Only some is being mirrored in Scotland. Here is the link to follow:

https://findbusinesssupport.gov.scot/coronavirus-advice

  1. Contact creditors and negotiate a delay in payments. It will be important to maintain good relations with all those you deal with so speak to them ahead of any proposed changes.
  2. Prioritise payment to smaller, local businesses that are more reliant on the cash flow from your custom. We all need to look after each other and it is important that we don’t forget the smaller businesses.
  3. Delay payment of VAT and tax. VAT payments are being deferred automatically by HMRC but you need to submit the returns as usual (see attached help sheet). You can also delay your payments on account due at the end of July. For other taxes contact HMRC Time To Pay (08000159559).
  4. Contact your bank to access government-backed business interruption finance. Other lenders are also able to access this funding.
  5. Open discussions with your employees regarding the Job Retention Scheme (see attached help sheet). Do you need to furlough staff that cannot work?
  6. Check your insurance to see if you are covered for Business Interruption
  7. Seek leasing payment holiday (some leasing companies are offering up to 6 months)
  8. Contact your local Council to seek deferment of rates etc.
  9. Consider mortgage holiday discussion with banks/mortgage lenders for your home. Most should be receptive to a 3 month payment holiday.
  10. Contact your landlord and negotiate a rent holiday or a reduction.

 

Hope all this is helpful. If we as small businesses sensibly protect cash but try to pay fellow small local businesses where we can, then there is a decent chance we can come out the other end of this.

 

Stay safe and strong. If you need anything do get in touch Here

 

Alan