Many UK glamping businesses will be seriously affected by the Government’s advice to self-isolate due to COVID-19. While some will be able to offer much-needed respite to staycationers should their property allow a good degree of isolation between units, there will be others who are losing bookings and revenue at this difficult time, with no view as to when this situation may improve.
Therefore, we will bring you the latest developments in terms of what help is on offer from the Government and what bodies, such as the Tourism Alliance are doing in terms of lobbying on your behalf.
For those employing staff, wages are likely to be a huge concern and we await the government’s package of support on this issue which we will bring to you as we know more details.
This week the Government announced:
- A new Bank of England Scheme to provide access to finance other than the money markets (to be launched next week)
- The extension of the maximum amount of a loan from £1.2 million to £5 million under the Coronavirus Business Interruption Loan Scheme, which will also be launched early next week. The loan comes interest free for the first six months.
- 100% rates relief for all businesses in the Retail, Leisure and Hospitality Industry from 1st April.
- Small business rates relief has been extended from £3k to £10k. This for the smallest of companies in the economy.
- For businesses with a rateable valued of between £15k and £51k there is in addition to rates relief an opportunity to apply for a grant of up to £25k. We are awaiting details.
- Mortgage providers will provide at least a 3 month repayment window on application.
- On insurance – IF your policy covers pandemics, it will pay out.
Stay safe and keep in touch
