Nationwide network of UK Business Advisors available to help you survive and then thrive
Businesses and individuals are facing unprecedented challenges and uncertain times due to the COVID-19 emergency.

Like you, we are feeling the impact to our work, families and friends. UK Business Advisors (UKBA) have contingency plans in place and are we already remote working, collaborating and communicating via phone and video calls to support our clients and new contacts.
As premier advisors to UK Small and Medium sized businesses, we are ready to play our part to help our clients and the wider business community during these difficult times. We remain confident that businesses that show decisive leadership can survive and then bounce back. Businesses that take quick informed decisions, plan well and lead strategically are the most likely to thrive.
The government has announced, and will continue to announce, financial support for businesses and individuals. For official guidance from the government please see: Coronavirus (COVID-19): UK government response and COVID-19: support for business.
If not already in place, every business should create contingency action plans. This is essential to ensure the survival of your business. This needs to be balanced with a strategic plan to be ready for the recovery.
UK Business Advisors have activated our nationwide network of experienced advisors to help business owners and directors plan what is needed. Even with government grants, business rates relief or emergency loan support there will be difficult decisions to be made quickly. We can provide initial support and share our experience, at no cost, over the phone or by video call. We can be a sounding board for your difficult decisions.
At a minimum you should consider actioning the following:
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Conserve Cash and apply for support
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For all businesses, Deferral of VAT will apply for payments due from 20 March 2020 until 30 June 2020. Businesses can chose to defer or pay as normal. Link
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Talk to your funders: Banks and other sources.
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Apply for the Coronavirus Business Interruption Loan Scheme. New – Personal Guarantees are not required for loans up to £250k. Link
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Apply for the Coronavirus Bounce Back Loan for up to £50k with rapid approval (opened for applications 4.5.20). Link
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Talk to your key suppliers. Agree extended payment terms and stick to them.
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Review purchasing methods and suppliers to reduce costs and supply risks.
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If eligible plan and apply for the Small Business Grant Fund for Business Rates. Link
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Retail, hospitality and leisure businesses should plan and apply for business rates relief. Link
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If other grants do not apply, look at the Local Authority Discretionary Fund (each authority has limited central funding and guidance was issued to them on 13.5.20). Grants are £25k, £10k or any amount under £10k. Link
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Claim for furloughed employees via the Corona Job Retention Scheme. Link. The online portal opened on April 20th and the scheme was extended to 30th June. Announced 12.5.20 – extension to end October with businesses contributing from August and flexible furloughing options announced by Rishi Sunak. Link.
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Talk to HMRC about delaying PAYE payments and accessing Time To Pay for tax. Link
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Contact your broker / insurer if you have business interruption cover. Request a review of your policy by UKBA if you are turned down – you may still be covered. Link
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Employees
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TALK with your staff – explain what you know. Communicate, Communicate and Communicate.
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Supporting staff as far as possible is a defining characteristic of well led businesses.
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Where possible enable staff to work from home. Provide support to help them deal with isolation.
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Formally advise employees that you intend to furlough under the Coronavirus Job Retention Scheme (to cover up to 80% of their salaries). Decide if you will top up the salaries of furloughed workers and for how long.
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Consider short term/part time working where furloughing is not appropriate.
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Consider temporary reductions in salaries and benefits (subject to contracts) for staff that can’t be furloughed.
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Customers
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Talk to your customers about their requirements and circumstances.
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Tell them honestly what your challenges are.
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Ask for faster payments (especially from government or public sector).
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Continue marketing where you can still reach your market.
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Think Laterally
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What can your business do different to serve your customers?
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Can you divert resources to offer alternative services or products?
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Can you partner or collaborate with other businesses to work round impediments?
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Prepare business operations for the “new normal”
UK Business Advisors can help by supporting you with advice on business contingency planning, forecasting, strategy, turnaround, restructuring, HR, procurement strategy and other key challenges.
Contact us via the following web form button and we will get back to you as soon as possible.
Gordon Carmichael
Chair UK Business Advisors
Updated 9th June 2020