Larger businesses to benefit from loans of up to £200 million

The Government yesterday announced that it is extending the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme from £50 million to £200 million.

Loans under the expanded scheme will be made available to large businesses affected by coronavirus from next week.

Companies receiving help through CLBILS and the Bank of England’s Coronavirus Corporate Financing Fund will be asked to agree to not pay dividends and to exercise restraint on senior pay.   

Dedicated Business Support Helplines for all</stro!> regions of the UK

Businesses can access free, impartial business support and signposting services, including business advice on Covid-19 by calling a dedicated helpline:

The Business Support Helpline number for businesses in England has changed to 0800 998 1098.   

For businesses in Scotland the helpline number is 0300 303 0660, in Wales it is 0330 060 300 and in Northern Ireland it is 0800 181 4422.

Outlook for the automotive sector post pandemic

Recent weeks have seen a surge in commentary reporting on what the future may hold for the automotive sector and its different business models and technologies. Here are a few:

ING Bank highlights research from consultants CapGemini that shows that 40% of people under 35 in the UK are considering buying a car in 2020. It also points to a potential delay in the uptake of mobility services, particularly car sharing, and assesses the impact of low fuel prices and an economic downturn on demand for electric vehicles.

FT article picks up from the ING report and assesses the potential for any short- or long-term pick-up in demand for cars, particularly from a younger demographic worried about using public transport. It also quotes high-profile figures within the automotive sector on the likelihood for any government incentives or scrappage schemes and whether these will be solely based on electric vehicles.

Bloomberg NEF Electric Vehicle Outlook 2020 The Bloomberg New Economic Forum team have just published their annual EV Outlook, which provides industry-acknowledged forecasts on EV model availability, demand, share of new vehicle sales and growth in demand for new mobility services.

Cyber Security Guidance for businesses during Covid-19

The National Cyber Security Centre has today published guidance to support businesses moving from physical to digital delivery as part of the ongoing Covid-19 response.

The guidance includes advice on home working, video teleconferencing and spotting email scams related to Covid-19.

Department for International Trade hosts series of webinars

The DIT is running a series of hour-long webinars to help businesses during the Covid-19 whose operations rely on international trade. You can register to attend via the following links:

Risk management when considering new markets takes place at 10am tomorrow (Thursday 21 May)

Managing disruption of supply chains during COVID-19 takes place at 2.30pm on Friday 22 May

Apprentice programme guidance is updated

Guidance for apprentices, employers, training providers and assessment organisations has been updated to include the Government’s new safer working guidelines and information on calculating wages for furloughed apprentices, off-the-job training, and redundant apprentices.

The BVRLA website is updated daily with Covid-19 Business advice and information

As well as receiving these Covid-19 Bulletin emails, members are also reminded that the BVRLA website contains a dedicated Covid-19 Business Advice section hosting all the latest information as well as the previous Covid-19 Bulletins that have been issued since they launched on 17 March.

If you have a colleague who would also like to receive the BVRLA Covid-19 Bulletin, they should email BVRLA Communications Manager Andrea Davies at andrea@bvrla.co.uk