COVID-19 support for UK businesses

26 March 2020

Due to the COVID-19 crisis, where social distancing and staying at home is vital, many businesses are facing challenging times ahead. As a result, Chancellor of the Exchequer, Rishi Sunak, has set out a package of temporary, timely and targeted measures through the period of disruption.

The package of measures to support businesses includes:

• Coronavirus Job Retention Scheme-paying part of UK businesses employees’ salary that would otherwise have been laid off during this crisis.
• Statutory Sick Pay relief package for small and medium sized businesses (SMEs)
• 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
• Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank

Read more about the UK government’s support for businesses here.