As part of the government’s ongoing work to deal with the floods, the Prime Minister has set out further support for businesses in areas affected by flooding.
Building on the recent package of support for businesses and households, the Prime Minister announced:
- A new Business Support Scheme – The scheme is worth up to £10 million to provide hardship funding for SME businesses in areas affected by the floods. Both businesses that have been flooded, and businesses that are in affected areas and have suffered significant loss of trade, will be able to apply for support. Eligible businesses will be able to claim for funding for things like immediate clean-up costs, materials, and exceptional costs to help them continue trading.
- Extra time for businesses to file accounts without any penalties – If any affected company is unable to file accounts or other documents on time as a direct result of the floods, Companies House will agree an extension and not collect the penalties which apply for late filings.
- A government business support helpline – The helpline is providing comprehensive advice and support to businesses affected by floods. It will offer a free 1 hour call with a dedicated Business Support Adviser to help businesses get back on their feet. The helpline number is 0300 456 3565 and can take calls from flood affected businesses now.
Business Secretary Vince Cable said: “It is vital that small businesses affected by the flooding get assistance as quickly as possible. We know the insurance companies are working to process claims as quickly as possible and we will inform local authorities of their allocations from the Business Support Scheme to assist businesses with clean-up costs or help them to continue trading.”
At JW Hinks, we offer a range of services to businesses and can assist with obtaining funding from the new support scheme for businesses affected by the adverse weather. For further information, please contact us.