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By Jimmy McLoughlin, former business adviser to the Prime Minister


This content is taken from Jimmy’s newsletter, ‘Coronavirus & Government Updates’. Subscribe here.

 

This email is for UK entrepreneurs and Small Businesses trying to navigate support that the Government and other agencies are offering.

I used to advise the Prime Minister on business, so I know how hard it can be for Government to reach out and how tough business can find it to navigate the labyrinth that is gov.uk. I won’t have all the answers, but I hope I can point you in the right direction.

Top lines

Rishi Sunak will be announcing measures for self employed this afternoon, I know how frustrating it must be as a self employed person. The reason it is taking so long is because of the technical difficulties about how to calculate the amount to pay individuals. Remember, government wants to help, but also has to get it right.

Some banks are under fire for coronavirus loan tactics.

Regarding loans, the latest information seems to be that the maximum people can borrow is 25% of prior year revenue or 2x salary cost (whichever is higher) and all subject to the scheme maximum of £5m. Speculation from Sky News is that it will be less than £2,500 for employed people. Link here.

Digby Vollrath of Feast It which organises super catering for events, has pulled together a guide for those in the events industry to deal with coronavirus. The advice is available here.

A reminder, the page you need to start at to access Government support is hereIt ranks 8th on Google when you search for govt support for business.

Interesting articles

Y Combinator is the world’s pre-eminent accelerator, responsible for launching companies such as AirBnB, Stripe and Dropbox, might be the most amazing company you’ve ever heard of. They have 25 of their firms looking to tackle COVID-19, some really inspiring stories available here.

Annabelle Dickson from Politico has written about 19 Coronavirus heroes, from tattoo artists to bakers, it is available here.

Founders of the Future is a bit like Britain’s Got Talent for entrepreneurs, they are streaming their regional finals tonight at 6pm, you can find all the information you need via Brent Hoberman’s LinkedIn post here.

Helpful people

Be the Business was launched by Government in 2017, which looks at how to improve the UK’s productivity crisis. They have though launched a great Coronavirus navigator. The link is here.

The Institute for Chartered Accountants in England and Wales have an excellent coronavirus section. It includes some excellent tips and guidance, including this note on furloughing staff, which any employer should read.

Finally, a picture to make us all smile

You may remember when the below family became an internet sensation when their children interrupted a live TV interview back in 2017. Well they’ve made a return and were on BBC news to talk about the challenges of working from home.

The original clip is here.

Please forward this to family, friends and colleagues that you think would find it helpful, and as always please feel free to send me feedback by hitting reply or messaging me on Twitter.


This content is taken from Jimmy’s newsletter, ‘Coronavirus & Government Updates’. Subscribe here.


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