In Covid update

Coronavirus COVID-19 is developing rapidly and the impact on our members, their customers and workforces in the construction industry will be dramatic and in some cases unavoidable. We are receiving a lot of information and are filtering to provide you with clear and targeted and knowledge, sometimes abridged. Businesses should follow the most up-to-date guidance.

Further to the information we provided to members on Monday 16th March, ASFP’s membership of a number of major trade associations and industry bodies allows us to share the information below which will be of use to members affected by the outbreak. Thanks to Build UK and the Finishes and Interior Sector for some of the information.

In addition to the support to business by loans announced earlier this week (full details expected early next week) there has recently been discussion in the national media about possible support to business by paying a percentage of workers’ salaries, thus avoiding the need for redundancies and keeping industry able to respond when the upturn comes. We will report on any initiatives and announcements as and when we get them.

GOVERNMENT GUIDANCE FOR EMPLOYERS

 GOVERNMENT FINANCIAL SUPPORT

 GOVERNMENT FINANCIAL SUPPORT (Loans – details expected next week)

Further information on accessing loans and grants announced by the Chancellor will be available next week, but in the meantime, we can confirm:

  • The loans will be provided by banks signed up to each particular scheme and your first point of contact should be your usual bank or an accredited lender
  • The Coronavirus Business Interruption Loan Scheme (CBILS) will offer up to £5 million per business with the Government covering the first six months of interest payments.
  • The Small Business Grant will offer up to £10,000 per business. This will be administered by local authorities which we understand will contact businesses directly, although local authorities do not yet have information from central Government on how to operate the grant.