Job Retention Scheme
The government’s coronavirus job retention scheme is now live, with businesses able to claim up to £2,500 a month towards staff wages. Employers can furlough anyone they employ, provided that on or before 19th March they were on payroll and HMRC has been notified on payment. The council will be sharing details of the scheme with our businesses as we continue to support them as best we can.
Business Grant Funding
The government has published a table showing the amount paid out by local authorities through the small business grants scheme and Wigan is the top performing Council in Greater Manchester, having paid out 71.8% of grants so far. Currently we rank 41 out of 315 councils. Officers are working with our businesses to get the money out to them to help them get through these difficult times.
£1.25 Billion Government Support Package for Businesses
Yesterday the government announced a new package to protect firms driving innovation in the UK. The package includes a new £500 million loan scheme for high-growth firms, called the Future Fund, and £750 million of targeted support for small and medium sized businesses focusing on research and development. The £500 million Future Fund, delivered in partnership with the British Business Bank and launching in May, will provide UK-based companies with between £125,000 and £5 million from the government, with private investors at least matching the government commitment.