AS the cost-of-living crisis continues to bite, we have pulled together all the help business in the North East and North Yorkshire can receive after the Chancellor announced changes to the Employment Allowance.
As part of the Spring Statement, Rishi Sunak announced a range of measures to combat the cost-of-living crisis currently affecting many across the country.
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These included an increase in the National Insurance threshold for the 2022 and 2023 tax year, as well as a tax cut worth £1,000 for small business starting from April 6 2022, set to last one year.
He also announced that from April the Employment Allowance will increase to £5,000, you can find everything you need to know about the Employment Allowance here.
What other help is there for small businesses?
Many councils offer some support to businesses, but this ranges from council to council, however, many are offering post-covid support.
Darlington:
Darlington Borough Council have their very own dedicated business support team called “Invest in Darlington.”
The team provides a range of advice and guidance to support business growth and investment in Darlington, according to the council.
This includes starting a business, business growth and expansion, moving a business to Darlington, Property and land search, introductions to business networks and specialists, funding and business finance, skills and training, recruitment, business events and seminars and doing business with the council.
The council was also awarded £3.8 million of the Additional Restrictions Grant pot, aimed at providing meaningful support to business that had their livelihoods impacted by the pandemic.
More information can be found here.
County Durham:
Durham County Council offers help in finding businesses a source from a range of partners and schemes depending on the businesses area.
The council also offers a scheme of targeted business support providing funding to small retail business in the county to use on improving premises.
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According to the council this funding is available to support new businesses into premises, bring back derelict premises or underused retail space back into use and encourage business growth.
The Council says it is currently in the process of launching an interest free loan to encourage purchase or improvements to retail premises across the county.
A range of Covid-19 support grants were also offered to Durham County Council, including the Omicron Additional Restriction Grants, the Covid-19 Digital Improvement Grant and the Additional Restrictions Grant.
More information can be found here.
Hartlepool:
Hartlepool Borough Council also has a business support team called “Invest in Hartlepool.”
Much like Darlington the Economic Growth Team are available to assist Hartlepool businesses as well as their investment.
The team provides advice and guidance to businesses looking to start up, expand or relocate to Hartlepool.
More information can be found here.
Newcastle:
Newcastle City Council offers support and advice to businesses who are looking to access resources from a range of public grant funding programmes, including European funds and the Local Growth Fund.
The Council offers the North of Tyne Growth Fund, a grant for businesses looking to expand and create jobs in Newcastle, North Tyneside and Newcastle.
It also offers the North of Tyne Cultural and Creative Investment Fund, which provides equity, loans or grants to grow the cultural and creative sector.
More information can be found here.
North Yorkshire:
North Yorkshire County Council have launched a range of initiatives in an attempt to support local businesses.
These include Buy Local, which is a free website to support businesses and tradespeople as well as help people find local services available to them.
The council urges all eligible traders and business to register on the Buy Local website as soon as possible.
Instant payments have also been arranged to help business which means the council is now paying small and medium sized suppliers instantly, subject to bank clearing times, rather than the standard 30-day period.
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North Yorkshire Council also refers people to Government help that is available to them through the Covid-19 support funds.
These include the Omicron Hospitality and Leisure Grant and the Business rate relief and grant funding.
More information can be found here.
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