Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the effect of covid-19 on sole traders; and what steps he is taking to support sole traders with reduced income during the covid-19 outbreak.

In order to help UK businesses during the Coronavirus outbreak, we have made an unprecedented level of support available in the form of cash grants and business loans.

The Coronavirus Business Interruption Loan Scheme (CBILS), delivered by the British Business Bank, is now available for eligible smaller businesses including unincorporated businesses, such as partnerships and sole traders. Decision-making on whether a business is eligible to access CBILS will be fully delegated to the 40+ accredited lenders. The Scheme covers overdrafts, loans, asset finance, and invoice finance. Full guidance, including eligibility criteria, will be published at: www.british-business-bank.co.uk/cbils.

In addition, HMRC have set up a tax helpline on 0800 0159 559 to support and advise businesses and self-employed people concerned about missing tax commitments due to Coronavirus. Further detail on the Government’s support package for businesses is at: www.businesssupport.gov.uk/coronavirus-business-support/