COVID-19 Policy Wins

COVID-19 has affected every business regardless of size and sector. As a chamber of commerce, it is our job to represent our members and the wider business community during this unprecedented time. To help the business community, we have been actively lobbying Government alongside the British Chambers of Commerce to provide a range of business support measures to help businesses throughout the pandemic and as part of any wider recovery. 

As a network, we have been able to achieve a number of policy wins since the UK lockdown began on the 23rd March - you can download the document here or view it below.

Provide funding for employee retention

We asked the Government to subsidise wages, to provide financial help and retain staff. Coronavirus Job Retention Scheme was introduced, which enables businesses to retain staff whilst 80% of wages are covered by the state. This was supported by Suffolk Chambers Weekly COVID-19 survey, which showed that in week 2–12, 42% - 69% businesses were finding it difficult to access domestic customers

Extending the date that furloughed employees must be on payroll

Following pressure from the chamber network, the Government extended the date that furloughed employees must have been on a firm’s payroll. This allowed firms who continued to create jobs in the weeks before the lockdown and receive furlough pay for these staff. This was supported by Suffolk Chambers Weekly COVID-19 survey, which showed that in week 4 – 12, 68% - 70% businesses have or are planning to apply for the Coronavirus Job Retention Scheme

Extend the length of the Job Retention Scheme (JRS) and increase flexibility

We pushed for the Government to extend the JRS and it is now open until October with added flexibilities to bring people back to work gradually. This was supported by Suffolk Chambers Weekly COVID-19 survey, which showed that in week 9 – 12, 89% - 93% businesses have furloughed up to 50 staffs

Three-month suspension of VAT payments

The chamber network successfully lobbied Government to suspend VAT payments for three months to support cash-flow. This was supported by Suffolk Chambers Weekly COVID-19 survey, which showed that in week 2 – 12, 82% - 92% businesses are worried about loss of income

Income support for the self-employed

Similarly to the Job Retention Scheme, the Government introduced the Self-Employment Income Support Scheme (SEISS) following pressure from the chamber network. This was also supported by Suffolk Chambers Weekly COVID-19 survey comments by businesses such as ‘I am a self-employed, freelance designer and there seems to be little help and advice on how to survive the coming months, when lack of income is a severe issue’

Suspend rules on State Aid eligibility

We asked Government to work with the EU to suspend the rules on State Aid which bans support in excess of 200,000 euros so that they support could be provided to larger firms.

Support for mid-sized businesses not covered by existing funding support

Some businesses were too big for the initial loan schemes. As a result, a new loan was introduced for bigger firms – Coronavirus Large Business Interruption Loan Scheme. This was supported by Suffolk Chambers Weekly COVID-19 survey, which showed that in week 1 – 12, 23% - 50% businesses are worried that may have to cease trading

Get funding to businesses at the front line more quickly

We lobbied the Government and banks to make significant changes which would mean businesses received faster payments. This includes removing personal guarantees on all loans below £250,000. This was also supported by Suffolk Chambers Weekly COVID-19 survey comments by businesses such as ‘The criteria for a loan is too demanding and the loan companies are looking for too much security, not as I believed the government intended’

Support for the smallest companies who are struggling to access CBILS

As a result of many businesses struggling to access finance, the British Business Bank launched the Bounce Back Loans scheme. This offers small businesses loans between £2,000 and £50,000, is 100% guaranteed by Government and interest free for the first 12 months. This was supported by Suffolk Chambers Weekly COVID-19 survey, which showed that in week 2 – 12, 82% - 92% businesses are worried about loss of income

Protect Commercial Tenants 

Through collective action, the Government announced it would temporarily ban the use of statutory demands and winding up orders where a company cannot pay their bills due to COVID-19. It will also legislate to prevent landlords using Commercial Rent Arrears Recovery unless they are owed 90 days of unpaid rent. This was supported by Suffolk Chambers Weekly COVID-19 survey, which showed that in week 1 – 12, 27% - 52% businesses are worried about closing their site/office. Also comments from businesses such as ‘If we have to close our centres, loss of income and if this impacts our tenants we may lose businesses’.

Support for small firms who aren’t eligible for grant support

Following chamber feedback, additional funding of £617m was made available as a discretionary fund for businesses and the self-employed, who were ineligible for the initial grant schemes. This was also supported by Suffolk Chambers Weekly COVID-19 survey comments by businesses such as ‘as micro business owner, £O demand this week, 0 demand= £0 income for business & domestic costs’

Clear workplace health guidance

We have consistently called for clearer workplace guidance to help employers understand the conditions which they can reopen and operate safely. In consultation with Government, we have reviewed and provided constructive feedback on its guidance and future plans. This was supported by Suffolk Chambers Weekly COVID-19 survey, which showed that in week 1 – 2, 13% - 16% businesses found the Government advice not so useful.