Are you eligible for Covid-19 financial support? Use this new tool to find out

A new online support hub will help businesses and self-employed people “quickly and easily” find financial support amid the coronavirus pandemic, it has been revealed.

According to the Department for Business, Energy & Industrial Strategy (BEIS), the new “support finder” tool will determine what financial measures are available for businesses affected by Covid-19.

Business owners who use the hub will be asked to fill out a simple questionnaire and be directed to a list of all the financial support they may be eligible for.

This may include one of the Small Business Grant Funds, the larger Coronavirus Business Interruption Loan Schemes, the Coronavirus Job Retention Scheme, or the Self-employment Income Support Scheme.

The new business support finder tool can be accessed here.

Commenting on the new feature, Business Secretary Alok Sharma said: “Businesses of all shapes and sizes play a vital role in our economy, which is why we want to make it as easy as possible for all of them to access our wide-ranging package of financial support during this challenging time.

“This online questionnaire takes just minutes to complete and will quickly signpost a business to the loans, grants or other schemes they could be eligible for.”

Alongside financial support, businesses may also be able to take advantage of the VAT deferral scheme, the 100 per cent business rate relief scheme for eligible properties in the retail, hospitality and leisure sector, and the three-month extension for filing statutory accounts.

For more details on support for businesses, please visit the coronavirus business support hub.

Do you need support accessing corporate finance? For help and advice, please get in touch with our expert team today.