On 3rd March 2021, Chancellor Rishi Sunak declared that the Coronavirus Business Interruption Loan Scheme (CBILS) would come to an end at the end of March, to be replaced with the Recovery Loan Scheme (RLS) from 6th April 2021, taking applications until 31st December 2021. Having used the CBIL Scheme to support small and medium … Read more

On Wednesday, 3rd March, Chancellor Rishi Sunak announced the Government’s latest Budget, perhaps the most significant for businesses in recent times due to the events of the last 12 months. We’re breaking down the key policies affecting British small and medium enterprise (SME) businesses, how they trade, pay tax and the effect on jobs. In … Read more

Without doubt 2020 was the hardest year many of us experienced, personally and professionally our lives were put on hold and our businesses were closed down. Undoubtedly this put a hold to growth and development to many businesses. At Johnson Reed we have been working since last April, when the Coronavirus Business Interruption Loan Scheme … Read more

The Supreme Court has rules in favour of SME business that have been shunned by insurance providers over business interruption insurance claims having been rejected last year. The Financial Conduct Authority (FCA) brought the case forward with the support of eight insurance companies last summer. When we last wrote about this, we advised businesses not … Read more

Applying and then being rejected for equipment finance or loans for your business can be disappointing and frustrating, not to mention time consuming, even more so in the current climate. This is why we are encouraging our businesses to follow the correct process and work with us to process their applications efficiently and have a … Read more

Following the announcement of a third national lockdown at the start of January 2021, Chancellor Rishi Sunak has announced that businesses in the retail, hospitality and leisure sectors may be eligible for a one-off cash grant of up to £9,000. This follows the news that these businesses will be closed until at least mid-February, in … Read more

Small and medium enterprise (SME) businesses have faced their biggest ever challenge this year. With the online resources and depth of large business, there are ways in which asset finance can help them to continue to compete, both as asset vendors /suppliers and end user clients.  As a long-term supporter and promoter of small businesses … Read more

The UK Government has provided the Coronavirus job Retention Scheme, with news of a second lockdown, this has been extended until April 2021. Here’s an update for the scheme: The scheme has been extended until the end of April 2021, with employees receiving 80% of their wages Employers small or large, charitable or non-profit, are … Read more

With the government loan schemes coming to an end at the end of September and the Coronavirus Job Retention scheme ending at the end of October, Chancellor Rishi Sunak has announced his ‘Winter Economy Plan’ for businesses and jobs. New measures have been announced such as the Jobs Support Scheme, Pay as you Grow and … Read more

With many businesses across different industries and sectors being adversely affected by Coronavirus, companies are still looking for support from the Coronavirus Business Interruption Loan Scheme (CBILS). With the British Business Bank declaring the deadline for the scheme to be 30th September 2020, leaving just 6 weeks (at time of writing) for businesses to get … Read more