The government has made a wide variety of economic support available to help businesses and self-employed people across the economy, including artists and self-employed people working in the creative industries. This includes:
- The Self-employment Income Support Scheme which will allow self-employed people to claim a taxable grant worth 80% of their trading profits up to a maximum of £2,500 a month. This is initially available for 3 months, but may be extended;
- Bounce Back loans of up to £50,000, 100% guaranteed by the Government. These will be interest-free for the first 12 months. Businesses can apply online through a short and simple form;
- The Coronavirus Business Interruption Loan Scheme for larger financing requirements;
- The option to defer VAT payments;
- Small Business Grants of £10,000 which will be paid to any property in receipt of Small Business Rates Relief or Rural Rates Relief.