iSE CIC | COVID-19 Summary and Sector Updates

We are starting to roll out updates, resources and new services re-shaped and focused on the impact of COVID-19 on Birmingham & Solihull social enterprises, social entrepreneurs and the wider sector.

Firstly, the team and our networks have been working incredibly hard to review information and still maintain the ‘day job’ while managing many additional communications across iSE CIC, Digbeth Social Enterprise Quarter and the Women’s Enterprise Hub.

Secondly, we’re also aware there is a vast range of information being shared from many different sources… some well-founded, some a little less so which can add to individual stress and anxiety (personally and professionally) at this time.

With this in mind, we have pulled together a number of references, resource documents and useful links that we feel provide robust and relevant information for the sector.

We also want to reaffirm a message of kindness, which has been embodied by the outpouring of positive community-minded action. We wanted to thank everyone who has messaged us, helped a neighbour or supported a colleague in recent weeks – it shows that a caring, civil society is about ‘us not me’ and we can all #DoMoreGood in these difficult times.

More updates will follow here, as and when there is new information that we can signpost you to.

Stay safe and well, and please get in touch if you need social enterprise guidance or support across Birmingham and the West Midlands. We will endeavour to help wherever and whenever possible.

Sarah Crawley (CEO, iSE CIC) | 0121 771 1411 | info@i-se.co.uk

Taking control of any challenging situation can help reduce your personal anxiety.

Here are our practical tips to help you manage your response to COVID-19 impacts on your enterprise or personal situation…

> Most of all, understanding your numbers is critical – identify and itemise what it costs to run your business each week or month. Be honest with yourself!

> How long can we ‘keep the lights on for’ – what’s your sustainability if your income reduces.

> Set up a spreadsheet with details of your staff, including their length of continuous employment, contract type, monthly/weekly cost and whether they are critical to the operation of your business.

> Make an appointment with your local Business Banking Manager and see if you can extend or apply for an overdraft or ask about the Corona Virus Business Interruption Loan Scheme – more information due 23^rd March 2020.

> Speak to HM Revenue and Customs. They will suspend debt collection if you contact them and reach an agreement. In addition, the normal interest on deferred tax payments will be waived. Please accept that they will be inundated, and are only human – please be patient, and kind, they are knowledgeable and supportive if you approach them early.

HMRC Corona Virus Business Support Line: 0300 456 3565

HMRC Self Assessment Helpline: 0800 015 9559

> Join a local online group (Facebook is the most popular local platform for this) and seek support and ideas from other local businesses, whether it’s keeping your children occupied and educated while at home, activity packs, free things to do or businesses coming together with offers of support

> Share, collaborate and stay connected with your networks, whether it’s ideas, innovations or general support with others.

> Check Government guidance for the Self Employed (released 26.03.20) HERE. See some further information from Enterprise Nation on Self Employed ability to claim early Universal Credits here.

> Check updates and what support is available on the Government website HERE. Additional Government CORONAVIRUS BUSINESS SUPPORT updates HERE.

> Check the latest health and well-being guidelines from NHS HERE

SOCIAL ENTERPRISE SECTOR

MARK SIMMS, P3 – Leading a Social Enterprise through COVID-19 Change

SOCIAL INVESTORS & LENDERS – Call for Emergency Liquidity Facility

GOOD FINANCE – Resource Hub for Social Enterprise Sector

COLEBRIDGE ACCOUNTANCY SERVICES – Business Briefing for Social Enterprise

SEUK – Corona Virus MicroSite

SEUK – Briefing for Social Enterprises

SCHOOL FOR SOCIAL ENTREPRENEURS – Preparing for Corona Virus

BVSC & Birmingham City Council – Communities Working Together

GOVERNMENT – Response Survey

PIONEERS POST ARTICLE – Social Enterprise Support

VOSCUR BRISTOL – Voluntary, Community and Social Enterprise (VCSE) Sector Updates

FINANCE

CHARITY BANK – Emergency Funding for Charities & Social Sector Organisations

IAN McLINTOCK – 93 (and rising!) Sources of Charity Funding (some may be open to Social Enterprises)

GOVERNMENT – Self Employed Statement (latest 26.03.20)

THOMAS + YOUNG – Support for the Self-Employed (latest 27.03.20)

GOVERNMENT – Small Business Grant and Retail, Hospitality & Leisure Grant Update

BRITISH BUSINESS BANK – Coronavirus Business Interruption Loan Scheme opens for Applications

GOOD FINANCE – Funding & Investment Guidance

PIONEERS POST – Social Enterprise Grants, Loans and Funding

THOMAS + YOUNG – Thomas & Young COVID financial measures summary

THOMAS + YOUNG – Thomas & Young Small Business COVID19 Guidance

THOMAS + YOUNG – Thomas & Young Business rates guidance

PIONEERS POST – Social Investors Come Together

SOCIAL INVESTMENT BUSINESS – Covid19 Resources and Information

ENTERPRISE NATION – Temporary Income Protection Fund for Freelancers

ENTERPRISE NATION – Accessing Government Corona Virus Business Support

CROWDFUNDER – Free Fundraising for Your Business

RESONANCE – CEO Statement

BANKS – Funds are being made available to small businesses impacted by COVID-19, including £2 billion from Lloyds Banking Group, £5 billion from NatWest and £7 billion from Barclays

BVSC & HEART OF ENGLAND – Corona Virus Resilience Appeal