Small Businesses: Government Assistance

(asked on 10th July 2020) - View Source

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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent assessment he has made of the adequacy of Government financial support for businesses who operate from a domestic premise during the covid-19 outbreak.


Answered by
Paul Scully Portrait
Paul Scully
This question was answered on 15th July 2020

Businesses operating from a domestic premises are eligible to benefit from a range of Government support during the pandemic, including the Coronavirus Business Interruption Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS) and Bounce Back Loan Scheme (BBLS), Future Fund, Self-Employment Income Support Scheme (SEISS) and the Coronavirus Job Retention Scheme (CJRS).

As of 12 July, £45 billion worth of loans have been approved under the three debt schemes (CBILS, CLBILS and BBLS). 429 convertible loans have been approved under the Future Fund, worth almost £419.6 million.

Around 95 per cent of those with more than half their income from self-employment in 2018-19 could be eligible for the Self-Employment Income Support Scheme (SEISS). As of 12 July, SEISS had helped 2.7 million individuals, claiming £7.8 billion of government support.

Those who pay themselves a salary through their own company via a PAYE scheme, including those based in domestic premises, are eligible for the Coronavirus Job Retention Scheme (CJRS). As of 12 July, 9.4 million jobs had been furloughed under the CJRS.

We engage frequently with businesses of all sizes including micro businesses and self-employed people and their representative organisations, to understand and identify the most effective support.

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