The cost-of-living crisis is a very real emergency currently faced by UK households – but what support is out there for our businesses, who are also suffering from soaring energy costs?
Headlines from the Government mini budget - 23 September 2022
* The planned 1.25% rise in National Insurance will be reversed from 6 November.
* Cancellation of the planned UK-wide rise in corporation tax which was due to increase from 19% to 25% in April 2023.
Surviving the Shockwaves : Making Your Business more Resilient this Winter
Reading Business Network's latest seminar included an overview of the budget announcements from Graeme Hobbs (Hobbs Gardner Roitt LLP) , carbon reduction and your bottomline by Andrew Childers (Beyond Procurement) and looking after your staff, Tasha Kearslake (Organic P&O Solutions) .
Watch the seminar recording
Low Carbon Grants
Grants up to £6,750 are available to support investment in low energy solutions such as low energy lighting, replacement boiler, double glazing, upgrade equipment.
Find out more about Low Carbon Workspaces
Energy Bill Relief Scheme
The government’s recently-announced support package to help relieve the rising energy costs for non-domestic customers will be welcomed by many businesses – while some feel more still needs to be done to support businesses. The current support package limits the price suppliers can charge business customers for units of gas and electricity and will come into effect from 1 October until March 2023. The government has pledged to review this timeframe after three months, in case further support is needed.
Find out more about the government’s Energy Bill Relief Scheme.
#BusinessSOS campaign
REDA and Reading BID have joined other business leaders and over 150,000 businesses from across the UK in urging Government to act now on spiralling energy costs for business, warning of mass closure and redundancies if immediate and effective action isn’t taken. Organisations representing over 150,000 retail, leisure, hospitality and tourism businesses are, in addition to energy rates relief, also campaigning for reduced VAT and Business Rates Relief until March 2023.
Find out more about the #BusinessSOS campaign
Free cost reduction support for Reading BID members
If you are a Reading BID member, you could be entitled to free support to find ways of becoming more energy efficient and reduce costs. By reducing your usage and switching to a green supplier you'll not only care for the planet by reducing your carbon footprint, but you can also save vital money on your bottom line. Support includes:
- Energy advice & cost reduction services.
- Carbon Coach support for 12 months.
- Carbon footprint calculations.
- Net Zero Strategic Report & Action Plan.
- Certificates, logos and a media pack to help you win new customers & tenders.
Call 01444 416529 or visit www.meercatassociates.com/reading to apply - Note you must be a Reading BID member.
Finding Overseas Markets to Drive Productivity
Internationalisation Fund provide grants up to £9,000 to support: research, translation services, trade fairs, market visits and more - available for businesses in England.
Find out more at www.great.gov.uk
British Business Banks’ fixed rate Loans
British Business Bank offers fixed rate loans: 6% interest rate, up to £25k per director. Eligible business must be less than 3 years old.
FREE professional courses
Invest in yourself or your managers with free professional courses such as training, 1-1 support from a business mentor, peer-learning sessions, access to an alumni network, and help to develop a business growth plan. Training topics include leadership, marketing, employee engagement, financial management - courses are delivered by Kingston and Oxford Brookes Universities.
Develop online business and skills
Help to Grow: Digital - support and tools for UK businesses. Find out more at: learn-to-grow-your-business.service.gov.uk
Digital Boost - Free mentoring for small businesses & charities.
Advice from Berskhire Growth Hub
Get neutral advice and guidance from Berkshire Growth Hub. One-on-one business support when you need it, with experienced business advisers, access to funded support, guidance and signposting.
Personal support for you and your employees
Reading Borough Council has compiled a full resource guide to places and people who can provide help for you, your family and your employees if you need it. The Money Matters web pages give advice on everything from accessing benefits and food banks to managing debt and coping with the effects of stress.
Find out more about Money Matters
Financial support for business
