More than 10,000 small and medium-sized enterprise (SME) owners have applied for a \u00a310,000 Business Boost grant, as firms look to rebuild and recover from the coronavirus pandemic.<\/p>\n
The grant was launched by Simply Business at the beginning of the year to provide a boost to small businesses, but the number of firms applying for the grant has increased significantly since the lockdown measures were introduced in March.<\/p>\n
Some firms have been unable to access Government support and grants such as these have provided a welcome boost to businesses.<\/p>\n
According to the latest research, SMEs estimate that COVID-19 will cost them an average of \u00a311,779 between loan repayments, loss of earnings and loss of business.<\/p>\n
There are currently almost 6 million SMEs in the UK, which account for 99 per cent of all businesses, with experts believing that the total cost to small businesses could be more than \u00a365 billion.<\/p>\n
SMEs also contribute \u00a32 trillion to the economy every year, with some experts concerned as research indicates that two-fifths are currently at risk of closure.<\/p>\n
We\u2019re astonished by the number of applications we\u2019ve received for our Business Boost grant. We know the devastating impact Covid-19 has had on small businesses, with lockdown costing them \u00a311,700 each on average.<\/p>\n
\u201cThankfully, the self-employed are resilient. We know that 75% intend to continue or restart their business, while a further 10 per cent even plan to take the leap and start a new one.<\/p>\n
\u201cWe\u2019re hoping that our \u00a310,000 Business Boost grant will enable the big dreams of one entrepreneur, and give them the financial help they need during these difficult times.\u201d<\/p>\n
For help and advice, contact our expert team today.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" More than 10,000 small and medium-sized enterprise (SME) owners have applied for a \u00a310,000 Business Boost grant, as firms look to rebuild and recover from the coronavirus pandemic.<\/p>\n","protected":false},"author":2,"featured_media":3672,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,30,31,79,101,99,57,109,86,25,4,26],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3670"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=3670"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3670\/revisions"}],"predecessor-version":[{"id":3671,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3670\/revisions\/3671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/3672"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=3670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=3670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=3670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}