Business Owners of Birmingham: Part Two

During this difficult and confusing time, it can force many people to go the extra mile to earn money for their businesses. I spoke to Errol Drummond and Judy Wellington, who are just two of the many business owners who are struggling through this pandemic. I interviewed them both to see how the pandemic has affected their business trading and practices.

I also spoke to Michelle Hemmings, who is a fundraiser in Birmingham. This year, Michelle helped a lot of upcoming events, however fundraising for these charity events have been very difficult during this time.

It must be said that some people feel supported by the government, however a lot of locals do not feel financially supported.

In March, Council leader Ian Ward, put in an order for immediate flexibility to direct £7 million from an EU funded business growth programme to support jobs and businesses.

There have been various grants specifically for creative individuals from the Arts Council.

Ian Ward has also wrote to the Secretary of State for Housing, and in a bid to inform any subsequent requests for government support and funding, he has contacted small businesses in Birmingham to urgently assess the impact of coronavirus on the city's economy.

A list of economic measures previously announced by the government to help assist businesses can be found down below and here.

● Coronavirus COVID-19.

● How to help prevent spread of COVID-19.

● What to do if someone has symptoms of COVID-19 has been in business settings.

● Eligibility for sick pay.

This guidance also provides details of support available to businesses including:

● A Coronavirus Job Retention Scheme.

● Deferring VAT and Self-Assessment payments.

● Self-employment Income Support Scheme.

● Statutory sick pay relief package for small and medium-sized enterprises (SMEs).

● A 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England.

● Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief.

● Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000.

● The Coronavirus Business Interruption Loan Scheme to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance.

● A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans.

● The HMRC Time To Pay Scheme to help with tax.

The Government have also been providing grants for local businesses that have been affected by COVID19. Grants amounting to more than £231 million, will start to be paid to eligible businesses in Birmingham. There are 2 grant schemes that companies can apply to here.

Scheme 1

● £10,000 for businesses in receipt of Small Business Rates Relief (SBRR) or Rural Rates Relief (one grant per business).

Scheme 2a

● £10,000 for retail, hospitality or leisure businesses with a rateable value of £15,000 or less (one grant per premises).

Scheme 2b

● £25,000 for retail, hospitality, and leisure businesses with a rateable value of greater than £15,000 but less than £51,000 (one grant per premises).

By Rhea Dehaney