Support for small and medium-sized businesses

Circular pilot grants - ReLondon

Thanks to funding from the Mayor of London's Green New Deal fund, ReLondon are pleased to be able to offer grants to London-based SMEs who need support in kickstarting a circular economy pilot as part of their recovery from the Covid-19 pandemic.
 
Successful applicants will receive a grant of either £10,000 or £15,000 and may be selected to receive 12 hours of support from a ReLondon business advisor to support in the design and delivery of the pilot.
 
Applications are open to any established, London-based SME with a circular economy project they want to launch as part of a green recovery. Please read the applicant guidance for detailed eligibility criteria regarding business size.
 
Application closing deadline is 18 July

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SME Brexit Support Fund: importing & exporting

The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice, if your business has up to 500 employees and no more than £100 million annual turnover.
You can use the grant for professional advice and training on:

  • how to complete customs declarations
  • how to manage customs processes and use customs software and systems
  • specific import and export related aspects including VAT, excise and rules of origin

PricewaterhouseCoopers (PwC) is administering the grants for HMRC.

Applications close on Wednesday 30 June 2021 or earlier if all funding is allocated before this date.

Apply

Recovery Loan Scheme

The Recovery Loan Scheme is to help businesses of any size access loans and other kinds of finance so they can recover after the pandemic and transition period.

  • Up to £10 million is available per business. The actual amount offered and the terms are at the discretion of participating lenders.
  • The government guarantees 80% of the finance to the lender. As the borrower, you are always 100% liable for the debt.
  • The scheme is open until 31 December 2021, subject to review.
  • Loans are available through a network of accredited lenders, listed on the British Business Bank’s website.

          Apply here

VAT Tax cuts and Deferrals

The government also announced at Budget plans to extend the 5 per cent reduced rate of VAT for goods and services supplied by the tourism and hospitality sector for a further six months until the end of September 2021. The rate will then increase to 12.5 per cent from October until the end of March 2022, before returning to the normal 20 per cent rate from April 2022.

Read more here

Find out how to pay VAT payments deferred between 20 March and 30 June 2020. You can pay now or join the VAT deferral new payment scheme.

Read more here

Coronavirus Statutory Sick Pay Rebate Scheme 

If you're an employer, find out if you can use the Coronavirus Statutory Sick Pay Rebate Scheme to claim back employees' coronavirus-related Statutory Sick Pay (SSP).

The online service you’ll use to claim back Statutory Sick Pay (SSP) is now available.

The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the Statutory Sick Pay paid to current or former employees.

Read more here

Pay it forward – Mayors Back To Business Fund

Pay It Forward is part of the London Growth Hub’s wider support offer for London’s businesses. This includes an online hub of essential resources and free one-to-one telephone and virtual support. Find out more here

Closed loan schemes

The Coronavirus Business Interruption Loan Schemes and Future Fund were designed to support UK businesses that are losing revenue and seeing their cashflow disrupted as a result of the COVID-19 outbreak. All schemes are now closed for new applications.

  • Bounce Back Loan Scheme (BBLS)
  • Business Interruption Loan scheme
  • Future Fund Scheme

Read more here

 

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