Inspire extends expert advice to all businesses seeking support during unprecedented times

With many businesses starting to struggle with the impact of the Coronavirus, leading South West business support service Inspire has extended its expert advice to all businesses seeking support.

Inspire is delivering:

  • Up to the minute, practical, business specific, government bulletins.
  • Guidance on what financial support is available to you and your business and how to access it.
  • Expert advice in risk mitigation, cashflow concerns, workforce advice, utilising technology to aid business operation and a vast breadth of other areas.
  • Local connections and solutions for supply chain and logistical challenges. Businesses collaborating to deliver products and services which are not able to be serviced by Asia and Europe currently.

Rob Perks, Inspire’s CEO, said: “We have seen complex and far reaching effects of the current crisis on a number of our clients from simple concerns around gaining accurate information to support their business to operational and supply chain challenges that have impacted their productivity and in some cases cashflow.

“We are in a unique position to support our wider business community with information and practical advice regarding all the challenges that business leaders are facing.

“We are fortunate to have a daily bulletin of Business specific measures and updates from BEIS and the Cabinet Office which we are sharing with all those that would like to receive it.

“The Inspire team is manning the phones or utilising video calls to connect our clients to the solutions they need, acting as an ‘Alexa’ for business.

“Our mission has always been to support business growth across the South West and build a community of like-minded leaders for shared learning and collaboration.

“In these difficult times we are extending our advice and support service to any business leader, whether they are an Inspire member or not, that would benefit from it, in an effort to support our regions business community in what will undoubtedly be an extremely challenging period.

There will be no cost for this service and for more information, call 01172 034288 or email via www.inspirebiz.co.uk

Inspire has provided the following advice on the Small Business Grant Scheme announced by the Chancellor

The Local Economies Contingency Team is working at speed to operationalise the announcement in the budget that the government would provide £3,000 cash support to all businesses in receipt of Small Business Rates Relief in recognition of pressures they will face as a result of Covid-19.   

What is HMG announcing?

  • Providing £3,000 cash support to all business in receipt of Small Business Rates Relief (SBRR) (c.725k businesses) and Rural Rates Relief (c.3k).
  • £2.2bn of funding for Local Authorities in England to support businesses that pay little or no business rates because of SBRR or Rural Rates Relief.

Why are they doing this?

  • The Government recognises that many small businesses pay little or no business rates because of Small Business Rates Relief (SBRR), but still face cost pressures at this time. To support those businesses, the government will provide £2.2bn of funding for Local Authorities in England.

Who will benefit?

  • This funding will only benefit those with a premises. It excludes small businesses and the self-employed who do not occupy property (e.g. cleaners, handymen, freelancers).
  • For a property with a rateable value of £12,000, this is one quarter of their rateable value, or comparable to 3 months of rent. Most properties that are eligible for SBRR will have a lower rateable value, and so this will represent an even greater proportion of their annual rent.

By how much?

  • This will provide £3,000 to around 700,000 business currently eligible for SBRR or Rural Rate Relief, to help meet their ongoing business costs