Learn how to navigate the Coronavirus outbreak - from accessing government support and emergency funding, to revising your business strategy and looking after your team's health.
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The UK government’s Retail and Hospitality Grant Scheme will provide cash grants of up to £25,000 for businesses in retail, hospitality and leisure sectors which are based in England. Local authorities will contact eligible businesses.
The CBILS provides loan facilities of up to £5 million for small businesses across the UK available on repayment terms of up to six years. The cost of interest and fees will be covered by the government for the first 12 months. Businesses are 100% liable for the debt.
Wisefund are providing an option to get financial support via crowdfunding loans for small businesses across Europe whose revenue has been affected by coronavirus. Companies which have seen a sales decrease of 25% or more are eligible for loans of between €10,000-€250,000 with low to medium interest rates. Any debt is taken on by the business.
Enterprise Nation and Crowdfunder have launched the Pay it Forward campaign to help small businesses facing cash flow issues. Businesses can set up a crowdfunding page for free and easily set up a scheme to offer customers vouchers for services or products which they can redeem in the future.
NatWest has pledged £5bn of working capital support for SMEs during the coronavirus outbreak. They have a variety of solutions to help companies manage their trading risk or access funding to alleviate supply chain pressures. They may be able to offer loan repayment holidays or temporary emergency loans with no fees.
Lloyds have a £2 billion package of arrangement fee free finance to help minimise disruptions to business operations. Support includes no arrangement fees for new overdrafts or overdraft limit increase, no arrangement fees for new or increased invoice finance facilities, and capital repayment holidays on loans for businesses that have been severely impacted.
Choose a platform that best serves your company’s needs. You can read about the benefits of different video conferencing software below. We use both Zoom and Google Hangouts frequently. Make sure that you have both downloaded on your computer and phone so you can easily access them, and if you have problems with one device, you can try on the other.
Scheduling a meeting with a service such as Calendly makes it easy to coordinate a time, the person you are inviting can directly book time in your calendar. They will also receive multiple notifications, decreasing the risk of no shows. For meetings with a large group of people, Doodle can be good for establishing a time that works for everyone.
There’s nothing more frustrating having prepared for a meeting only to find that people show up late, or not at all. Set an agenda with actions items to discuss, set specific timing for items to make sure people stick to the timing. Test your equipment and ensure everyone checks audio, headphone and internet connection at least 10 minutes before calls.
Having a virtual whiteboard or similar where people can collaborate remotely helps the flow of ideas. There are a number of online collaboration tools, Miro, for example allows your team to create mindmaps, and has many other templates, including for product management.
The uncertainty - social, health, livelihood and bereavements all put a huge stain on our mental health. Meditating is a good way to process everything and to help us reflect. Meditation app, Calm, is giving away some of its videos for free to help support people in the Coronavirus outbreak.