Business Blog

The second and final round of the Self-Employed Income Support Scheme, or SEISS as it is more commonly known, opened for applications on 17th August. If you have yet to apply, applications can be made up until the end of October. If you are debating whether to apply or not, here are some points you may wish to consider.

Government support for businesses during the recent lockdown was unprecedented and has allowed many small businesses to stay afloat during a particularly challenging period. But with the various schemes now entering the wind down phase, and with the main ‘furlough’ scheme due to close at the end of October, how can businesses using the various schemes re-focus their efforts?

It’s been a long three months since the word ‘furlough’ first entered everyday vocabulary and as the UK slowly emerges from lockdown, the Coronavirus Job Retention scheme, or CJRS, also begins to taper. The last date to register an employee for the CJRS has now passed, and from 1 July, employers will be able to bring furloughed employees back into the workplace for any number of hours and shift patterns.

Wednesday saw the launch of The Future Fund, the Government’s latest initiative to help businesses navigate the current crisis. The Government has partnered with The British Bank on The Future Fund Convertible Loan Notes (its full name) and the application portal opened on Wednesday.

Businesses that rely on equity investment and haven’t been covered under the Government’s previous support schemes could be eligible for the Future Fund. The Future Fund provides loans ranging from £125,000 to £5 million, on the proviso that this amount is at least matched by equity investment. To be eligible businesses must meet the following criteria:

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