Coast to Capital Growth Hub COVID 19 Support

This is an update of the support that the Coast to Capital Growth Hub Team can provide to businesses in response to the COVID-19 pandemic.

Following a very high demand for the Coast to Capital Backing Business Grants, the programme is currently paused for applications.  We have received interest from 450 in just a few days.  Businesses can still submit an eligibility checker but will join a waiting list queue.  Please note however that there is no guarantee funds will be available once the existing applications have been processed.  The criteria, eligibility checker and FAQs can be seen by following this link https://www.coast2capital.org.uk/backing-business-grants

The Growth Hub Team are available to respond to businesses by providing support and signposting to the latest information and support during this testing time.

Growth Hub Advisers are on hand to talk through business issues and will be able to refer businesses to specialist financial and other advice and potentially fund an initial day’s support.

We engaged 22 of our Growth Champions to provide additional support for businesses including one to one video clinics, webinars and specialist advice.

All members of the Coast to Capital team are liaising with business contacts and stakeholders to understand the issues that businesses are facing and reporting that to Government for support where these can be resolved.  A copy of our survey form is enclosed for information.

We have established a Priority COVID 19 Business Support Request Form that businesses are invited complete and we will follow up with one to one advice and signposting. 

We are keen to work with local and national government, business support organisations including the Chambers of Commerce, membership organisations, IOD and the Federation of Small Businesses to provide coordinated support and to provide collected feedback to BEIS as part of our weekly reporting.

Coast to Capital have launched a series of one to one video or telephone clinics on key topics. Here is the table with the registration links:

CACHE/NCFE Level 2 Certificate short courses - Greater Brighton Metropolitan College

What are the specific details?
Duration: You have up to 8 week to complete the course
Venue: Run via distance learning and can therefor be fitted around work and personal life
Cost: Free (Government funded) 

CACHE/NCFE Level 2 Certificate in

Business and enterprise courses:

• Equality and Diversity 
• Lean Organisation Management Techniques 
• Principles of Business and Administration 
• Principles of Customer Service 
• Principles of Team Leading 
• Understanding  Data Protection and Data Security 
• Understanding Workplace Violence and Harassment 

Health and social care courses:

• Cleaning Principles 
• Common Health Conditions
• Customer Service for Health and Social Care settings
• Falls Prevention Awareness
• Information, Advice or Guidance 
• Principles of Care Planning 
• Principles of Dementia Care 
• Principles of End of Life Care
• Principles of the Prevention and Control of infection in Health Care settings
• Principles of working with individuals with learning difficulties 
• Understanding Autism 
• Understanding behaviour that challenges 
• Understanding children and young people's mental health 
• Understanding dignity and safeguarding in adult health and social care
• Understanding working with people with mental health needs

For more information click here

Coronavirus Business Interruption Loan Scheme expanded to benefit more smaller businesses across the UK 

• Personal guarantees cannot be taken for any facilities below £250k
• Insufficient security no longer a condition to access the scheme
• Personal guarantees may be required for facilities above £250k but capped at 20% of the outstanding balance after business asset recoveries
• Lenders to retrospectively apply changes

2 April 2020: Launched on 23 March, today the Coronavirus Business Interruption Loan Scheme (CBILS) has been significantly expanded along with changes to the scheme’s features and eligibility criteria. The changes mean even more smaller businesses across the UK impacted by the Coronavirus crisis can access funding.

Importantly, access to the scheme has been opened up to those smaller businesses who would have previously met the requirements for a commercial facility but would not have been eligible for CBILS. This significantly increases the number of businesses eligible for the scheme.

Since CBILS launched less than two weeks ago, almost 1,000 facilities valued at £90.5m have been approved by lenders accredited to the British Business Bank’s CBIL Scheme. More than 80% of the UK’s smaller businesses have a finance relationship with CBILS accredited lenders.

The first facility was delivered under the scheme by Yorkshire-based Skipton Business Finance, with other lenders including the Business Enterprise Fund, Newable Business Loans, the Northern Powerhouse Investment Fund, Finance For Enterprise, Danske Bank, Clydesdale Bank and HSBC. The number of providers of the scheme will continue to grow and new alternative finance lenders will continue to be accredited to the scheme creating more choice and diversity of supply for smaller businesses.

About the scheme

The Coronavirus Business Interruption Loan Scheme, delivered through 40+ British Business Bank accredited lenders, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities.

Updated scheme features

• No personal guarantees for facilities under £250k: Personal guarantees of any form cannot be taken under the scheme for any facilities below £250k.
• Personal guarantees for facilities above £250k: Personal guarantees may still be required, at a lender’s discretion, but recoveries under these are capped at a maximum of 20% of the outstanding balance of the CBILS facility after the proceeds of business assets have been applied. A Principal Private Residence (PPR) cannot be taken as security to support a personal guarantee or as security for a CBIL backed facility.
• Security: For all facilities, including those over £250,000, CBILS can now support lending to smaller businesses even where a lender considers there to be sufficient security, making more smaller businesses eligible to receive the business interruption payment1.

We have communicated that these changes should be retrospectively applied by lenders for any CBILS facilities offered since 23 March 2020. For any commercial (non-CBILS) facilities offered since the same date, providing the borrower meets the CBILS eligibility criteria, lenders have been asked to bring these facilities onto CBILS wherever possible (e.g. where the lender is accredited to offer the same facility through CBILS) and changes retrospectively applied as necessary.

Existing scheme features

• Up to £5m facility: The maximum value of a facility provided under the scheme is £5m, available on repayment terms of up to six years.
• No guarantee fee for SMEs to access the scheme: No fee for smaller businesses. Lenders will pay a fee to access the scheme. Interest and fees paid by Government for 12 months: The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees2, so smaller businesses will benefit from no upfront costs and lower initial repayments.3 Finance terms: Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years.
• 80% guarantee: The scheme provides the lender with a government-backed, partial guarantee (80% gross) against the outstanding facility balance, subject to an overall cap per lender.
• Principal Private Residence (PPR) – A borrower’s/guarantor’s PPR cannot be taken as security to support a Personal Guarantee or as security for a CBIL backed facility. The borrower always remains 100% liable for the debt.

New eligibility criteria Smaller businesses from all sectors4 can apply for the full amount of the facility. To be eligible for a facility under CBILS, a smaller business must: • Be UK based in its business activity, with turnover of no more than £45m per year. • Have a borrowing proposal which, were it not for the current pandemic, would be considered viable by the lender.

• Self-certify that it has been adversely impacted by the Coronavirus (COVID-19).

Keith Morgan, Chief Executive, British Business Bank, said: “It was essential to get the Coronavirus Business Interruption Loan Scheme up and running as quickly as possible to get additional funding flowing to smaller business. We have seen an incredible demand for CBILS since it launched, so opening up access to the scheme to

1 Please note that where there is sufficient security available, it is likely that the lender will take such security in support of a CBILS facility

2 Following earlier discussions with the banking industry, some lenders indicated that they would not charge arrangement fees or early repayment charges to SMEs borrowing under the scheme. HM Government greatly appreciates this approach by lenders. 3 Fishery, aquaculture and agriculture businesses may not qualify for the full interest and fee payment.

4 The following are not eligible under CBILS: Banks, Insurers and Reinsurers (but not insurance brokers); public sector bodies, further educational establishments if they are grant funded and state funded primary and secondary schools.

even more smaller businesses across the UK will enable lenders to expand their support, deploying vital funding where it is most needed.”

How to apply CBILS is available through the British Business Bank’s 40+ accredited lenders, which are listed on the British Business Bank website.

In the first instance, businesses should approach their own provider, ideally via the lender’s website. They may also consider approaching other lenders if they are unable to access the finance they need. Not every accredited lender can provide every type of finance available under CBILS.

Coronavirus: Adur & Worthing Councils launch online Business Grants Service 

Small businesses, retailers, restaurant owners and leisure operators have today (Friday) been invited to submit a request for a government grant through a system set up by Adur & Worthing Councils.

The Councils have been charged by the government with administering the grant system which is available to around 2,500 businesses. In Worthing £26m has been allocated for the support during the coronavirus crisis and in Adur the figure is £17m.

The Councils have developed an easy-to-use online form which is now live at https://www.adur-worthing.gov.uk/coronavirus/business-support/  but are stressing that business owners must read the government guidelines on the section first to be sure they are eligible for the grants. Once forms have been filled in they will be verified by staff at the Councils before payments are made.

Small businesses qualifying (those that receive Small Business Rate Relief or Rural Rate) will receive a grant of £10,000 while operators in the retail, hospitality and leisure sectors will receive grants on a sliding scale of up to £25,000 providing their rateable value does not exceed £51,000.

A section on the website directs businesses to a Frequently Asked Questions (FAQs) page which Councils are asking everyone to check before filling in a form so that time is not wasted assessing forms for businesses that do not qualify.

Separately a letter is to be sent out by Councils to all qualifying businesses as a backstop to ensure all realise they can apply for grant assistance.

Businesses qualifying will need to give details of their operation so it is important the rate payer accesses the form only when they have all information to hand. Details needed include their business rates account number, property reference number, VAT registration number, full bank details, and billing address.

A spokesman for Adur & Worthing Councils said, ‘We all know this is an extremely worrying time for all businesses in our communities. 

‘We’ve worked quickly to develop an easy-to-use online system that will not take long to fill in. As soon as we have the details our teams will get started on processing the claim. We expect to have thousands of submissions but will act as speedily as possible.’

Message from the Leaders of Adur & Worthing Councils

Dear Resident,

We sincerely hope that you are coping in the best way you can during these terrible times and that your loved ones are safe and well.

As Leaders of Adur District Council and Worthing Borough Council we have refrained from communicating directly with you until now. You have all had plenty of messages and information about what to do during this outbreak.

However we thought it time to tell you that our staff, who we share to serve you all, are working as hard as they can to ensure crucial services are maintained as far as if possible.

Perhaps the most visible example of this is that you will have seen our refuse trucks still out every day collecting your waste. Touch wood so far we have not had to cancel rounds and we hope this can continue. 

We also want to tell you that we understand entirely the pressures you are all under. As members of the community with families of our own we know only too well the worry around jobs, bills and health that most of you are experiencing.

We are ensuring we make the strongest possible case to the government for financial help so we continue to support you, our own finances, like many others, having taken a hit.

We have established a series of Neighbourhood Teams out in the community working with the marvellous volunteers already out there so that we can be sure to help the most vulnerable of our community whether that be simply having someone to talk to or support getting food or for guidance on finance.

On the latter we know that we are all having to watch every penny now so we wanted to assure you that the money you pay for Council services is being spent extremely wisely.

Your Council Tax is paying for those refuse trucks we mentioned earlier, the police officers who are currently working around the clock to keep us all safe, social welfare staff looking after the most vulnerable in society and a whole host of other services such as housing repairs, ensuring food safety remains paramount and working to support businesses and employers to protect every job we can.

We know this is an anxious time for you and want to assure you that most Council services are operating as near to normal as is possible in the circumstances although we ask you to understand that response times to any query you have might be longer. 

We wish you all the best. Keep safe, stay well

Cllr Neil Parkin, Leader of Adur District Council

Cllr Daniel Humphreys, Leader of Worthing Borough Council

Appeal for volunteers goes out across Adur and Worthing

A fresh call has gone out from Adur & Worthing Councils for volunteers to join a network of community support groups helping the vulnerable during the coronavirus crisis.

Hundreds of volunteers have already signed up to the support groups with tasks including food shopping, advice on accessing health care, guidance on financial assistance or simply someone to talk to. But more are needed as increasing numbers contact the Councils for help.

Adur & Worthing Councils are coordinating their response with other authorities, including West Sussex County Council, the NHS and the voluntary sector.

Vulnerable residents, or relatives acting on behalf of those in need, are also able to request help using an online form or by ringing a telephone hotline.

Those needing support may be residents who are over 70, those living alone or caring for someone, those suffering acute isolation, financial hardship or those at risk of imminent homelessness or domestic violence.

Within these groups the support will be focused most on those people who are living on their own and self-isolating, without support networks of friends and family. 

Government launches Business Support website

Central Government has launched a helpful Business Support webpage which includes Frequently Asked Questions Many key questions are being clarified.  Business can access the FAQs here: https://www.businesssupport.gov.uk/faqs/

Impact of COVID-19 on Sussex Businesses Survey

Sussex Chamber of Commerce, working in partnership with Hampshire Chamber of Commerce and Surrey Chambers of Commerce, has put together a series of surveys for businesses to complete which seeks to better understand the continued impact of the coronavirus outbreak on businesses in Sussex, Hampshire and Surrey.

The responses to this survey will help us to get a clearer picture of what is happening within our business community and provide vital business intelligence to the Government.

This survey consists of 15 questions and should take no longer than 5 minutes to complete. 

Click here to complete the survey

Government Grants – Update from Adur & Worthing Councils

We are now finalising our system for administering the central government grants and undertaking final testing. Businesses will be asked to upload their information onto a centralised system to allow us to (a) verify eligibility and then (b) process the grant payment. This system will be released later this week / early next week.  

Businesses can begin to undertake their own eligibility checks by reviewing the guidance here.  Businesses should use this guidance to help identify what grant they are applying for. We would also like to draw your attention to Annex B which shows the information we will require in order to confirm eligibility and subsequently pay the grant.  

Please begin to have these details to hand & a copy of your latest business rates bill, for when we request it, as this will help speed up the process. 

All local authorities have been reminded that any claims paid, which are subsequently found to be ineligible, businesses will be required to repay the grant.

Coast to Capital have also launched a grant scheme for businesses.    The Coast to Capital Backing Business Grants is a £2 million fund that has been set up to provide grants to small businesses and social enterprises in our area who have been affected by COVID-19.  Applications opening soon.   

Please see the governments 5 Steps To Take Today and their dedicated business support webpage which includes FAQs for further help and assistance. 

Thank you for your patience and i'm pleased to say we are nearly there.