Tuesday, November 03, 2020

Helping the self-employed

The government is providing more financial support to the self-employed, and ensuring people get paid faster, to help Britain’s entrepreneurs get through this winter.

  • The rapidly changing health picture means it is necessary to go further to support self-employed people through the pandemic – on top of the £13.7 billion in support the government has already provided.
  • That’s why the UK-wide Self-Employment Support Scheme is being made more generous, so that people will receive 80 per cent of average trading profits for November, with this third grant now paid sooner than previously planned.
  • Government loan schemes for businesses have also been made more flexible, with the deadlines for applications extended to the end of January, while firms can top up existing Bounce Back Loans should they need additional finance.
  • The government will continue to do everything possible to support people's livelihoods across the UK. This new support will help ensure those who cannot trade or are facing decreased demand are able to get through the months ahead.

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