Coronavirus (COVID 19) and Small Business in the UK

The Coronavirus (COVID-19) Pandemic is widespread as of March 2020 and is affecting small and large business owners all across the UK.

Prime Minister, Boris Johnson recently announced the UK government’s response to the Coronavirus outbreak and has dedicated over £12 billion towards the COVID19 Response Fund.

This fund will help with extreme measures underway as a response to the outbreak as to help lessen the impact on the UK, small business owners and the UK economy as a whole.

Small business owners all across the UK are being advised to prepare for any potential distributions that may arise due to the Coronavirus outbreak.

The COVID19 Response Fund will help small business owners with providing support to employers who have quarantined staff or who have been directed to self isolate in protection of the rest of the population.

• A £5bn emergency response fund
• An “exceptional” business rates holiday for retail, leisure or hospitality firms with a rateable value of under £51,000
• The government will fully meet the cost of providing statutory sick pay for workers self-isolating for 14 days in businesses with up to 250 employees
• More help for self-employed or those in the gig economy through a £500m welfare boost and new £500m hardship fund
• A £3,000 cash grant to businesses eligible for small business rates relief

Coronavirus (COVID 19) and Small Business in the UK

While the Coronavirus has definitely impacted the economy, the stock market, a significant drop on travel and certain countries have been placed on lock down; it’s just the begining based on expert analysis.

As a small business owner in the UK, it is important to stay up to date and understand the latest updates on the virus, the spread and what you can do about it.

The most critical is to take special precautions for the COVID-19 and do what you can to prevent the spread.

The common respiratory virus avoidance methods include:

Avoiding close contact with those individuals that are sick
Encouraging your staff to stay home (work from home) when they are sick
Avoiding touching your face
Regular hand washing (at least 30 seconds with soap – If soap is not available use alcohol-based hand sanitizer)
Regularly clean and disinfect the frequently touched objects and surfaces

How concerned should you be as a small business owner?

With any outbreak, especially a deadly one, there is reason to be concerned.

Small business owners are impacted as person to person contact, gatherings and simply public awareness of the Covid is decreasing the amount of time people across the UK are spending in public places – which ultimately means, your shops, your businesses are impacted.

Aside from potential loss of income due to the downturn in the economy, the other risks you have is the spread of the Covid with direct contact with employees…etc

Time to change the world

Covid is spreading across the world. Global stock markets are in free fall.

But with great challenges come great opportunities.

You can now access the Small Business Startup Platform and prepare your small business for a time when we are Corona-free, right from your home.

A big dilemma that we are faced with is that people still need to live their lives, startups still need to launch, businesses still need help and support; but do you really want to go to a bank for help, do you really want to go visit the local incubators and community programs to help with your business plan and sit in a closed environment, concerned with the virus and worried of anyone coughing?

From home, you can access the Small Business Startup Portal and have everything you need to grow your business at the tip of your fingers, in the safety and comfort of your own home.

Instead of sitting at home watching Netflix, waiting for this to pass by, now is the time to start that small business you’ve always wanted.

Let’s get going. Let’s change the world together.