Help for struggling businesses
The last couple of years have been extremely challenging for small businesses and business owners. The Covid-19 pandemic put many businesses into survival mode where the priority was finding ways to overcome the financial hardship that the enforced closures and lockdowns brought. Tough conditions have continued as businesses try to absorb rising costs. Listed below are organisations that are there to help struggling businesses:
Free advice from Gloucestershire’s Growth Hub Network
Free 1 to 1 business advice is available from the Gloucestershire Growth Hub. Please complete their business support request form so they can direct you to the most appropriate advice: https://support.thegrowthhub.biz/
Getting help if your business can't afford its energy bills
Ofgem has a section on its website full of advice for businesses including those struggling to pay their energy bills. Please visit Ofgem.
Financial assistance for employers unable to pay statutory redundancy payments
If a business cannot afford to pay their employees redundancy pay, they can apply to the Redundancy Payments Service (RPS) (part of a government agency called the Insolvency Service) for financial assistance. If approved, the RPS will make statutory redundancy payments directly to the redundant employees on the employer’s behalf. For more information, please visit the Redundancy Payments Service.
Problems paying tax bills
If you cannot pay your tax bill on time, the HM Revenue and Customs (HMRC) Business Payment Support Service is there to help. For more information please visit HM Revenue and Customs.
Dealing with debt
British Business Bank
The British Business Bank has published a free guide with impartial information to help businesses through survival and onto recovery, helping them stabilise and move forward to growth and future success. For more information, please visit the British Business Bank.
Business Debtline
The Business Debtline is a charity that gives free, confidential and independent debt advice over the phone and online. It has also published a series of business debt advice fact sheets. For more information, please visit the Business Debtline.
Citizens Advice Bureau
Citizens Advice Bureau offers advice to anyone who is facing problems including consumer rights, debt and money management and employment rights. For more information, please visit Citizens Advice Bureau.