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5 Actions to consider for your business’ COVID-19 survival

  • Uldduz Sohrabi
  • 20th March 2020

Due to recent developments with Covid-19 also known as Coronavirus, we have put together a simple list to make all clients aware of some action points your business can consider.

#1 Turn your pub or restaurant into a takeaway

The government has announced that it is relaxing the rules around pubs and restaurants, allowing the businesses to operate as takeaways. This will be for a limited period of 12 months only and does not apply to alcohol. Businesses will be required to tell the local planning authority the period in which they intend to start and end the business as a hot food take away. 

#2 Check your eligibility for the government’s business loans to counter COVID-19 damages 

The entire hospitality and retail sectors will be given a year-long business rate holiday. Cash grants of up to £25,000 will be made available for businesses with a rateable value of £51,000, while others will have access to grants of up to £10,000. The tax cuts combined with grants will provide £20 billion in support. 

Read more about your business eligibility here

#3 Business insurance policy around the pandemic

The UK government assured businesses in hospitality who have been advised to stop business, that they would have sufficient reason to claim compensation through their insurance. Make sure you read your policy as some experts have reportedly said that up to 90% of insurances will not cover the pandemic closures, however, some suggest that this is only in the case of self-closure. 

#4 Consider how you can help your permanent staff 

If your staff is sick or needs to self-isolate, they would be eligible for statutory sick pay (SSP). SSP is £94.25 per week and can be paid for up to 28 weeks. SSP must be paid from the fourth day of sickness.

Consider putting your staff on temporary leave. This will help you retain the jobs for when the pandemic settles so that both you and your staff can recover. 

#5 Start planning for your business’ recovery 

Bouncing back is difficult at this point. As the pandemic worsens, we are unsure how long it will carry on. But looking out for what you will do to bring your business back in order immediately after the dust settles is crucial.

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