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Small Business Strategy Inquiry 2025 - ACT and Bira call for members to share their voice

20 Jun 2025

The House of Commons Business and Trade Committee has asked the ACT, and its parent company Bira, to help them reach out to small business retailers across the country, for their quick input on... Read more…

Beyond the discount: Restoring integrity to the cycle supply chain

18 Jun 2025

The Association of Cycle Traders believes the time has come for greater accountability throughout our supply chain, writes ACT Director Jonathan Harrison in an article published for BikeBiz.
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Bira welcomes Wales' business rates proposals but calls for key improvements

11 Jun 2025

Bira has welcomed the Welsh Government's consultation on business rate reforms for retail shops, whilst calling for significant improvements to ensure the proposals truly support high street... Read more…

New awards launch to champion Britain's independent high street heroes

9 Jun 2025

Retailers on Britain's high streets are being encouraged to put themselves forward for the first-ever Love Your High Street Awards, designed to celebrate the small businesses that bring... Read more…

"Tectonic shift" in employment law threatens independent retailer viability, warns Bira podcast

6 Jun 2025

Independent retailers are facing a "generational" transformation of employment law that could fundamentally change how small businesses operate, according to the final episode of Bira's first... Read more…

Retailers hope warm weather and bank holidays will boost high street sales

16 May 2025

ACT parent company Bira has said that members are hopeful the warm weather, Easter weekend and upcoming bank holidays will provide a much-needed boost to high street sales.
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Economic growth surges to 0.7%, but "April reality check" looms for high street retailers

15 May 2025

UK economy delivers strongest quarterly performance in a year despite forecasts of business downturn.
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Communities come together for Local Bike Shop Day 2025 celebrations

13 May 2025

Local Bike Shop Day 2025 brought a wave of... Read more…

ACT parent company Bira welcomes Bank of England's latest interest rate cut

8 May 2025

ACT parent company Bira has welcomed the Bank of England's decision to reduce interest rates from 4.5% to 4.25%, calling it a "much-needed boost" for the retail sector, including for cycling... Read more…

ACT parent company Bira responds to Beales' "Rachel Reeves Closing Down Sale" as iconic store makes final protest

8 May 2025

ACT parent company Bira has responded to the news that the 144-year-old Beales department store is staging a "Rachel Reeves Closing Down Sale" in its final weeks of trading, with giant yellow... Read more…

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How your independent shop will be affected by the budget

Posted on in Business News, Political News

The Chancellor presented his Budget to Parliament yesterday setting ouHouses of Parliament, budget 2020t the Government's fiscal measures and response to Coronavirus (COVID-19).

This briefing outlines the most relevant Budget policies for independent shops. The full Budget documents are available here

 

COVID-19 Business Support Package

"We will get through this together. The British people may be worried but they are not daunted"

The Chancellor set out a £12 billion package of ‘temporary, timely and targeted' measures in a three-point plan to support public services, individuals and businesses through the economic disruption caused by the coronavirus (COVID-19). The support package for business includes:

 

Statutory Sick Pay

The Government confirmed that Statutory Sick Pay (SSP) will now be available for people who are unable to work because they are self-isolating in line with government and medical advice.

The Government will bring forward legislation to allow small and medium-sized businesses and employers (with up to 250 employees) to reclaim up to 14 days of SSP paid for sickness absence due to COVID-19.

People who are advised to self-isolate for COVID-19 will soon be able to obtain a fit note by contact NHS 111 rather than visiting a doctor. This can be used by employees where their employers require evidence. Further details will be confirmed shortly.

Business Rates

The Government will extend the Retail Rate Relief scheme giving business 100% rates relief if they have a rateable value under £51,000 for 2020-21. Businesses that received the retail discount in 2019-20 will be rebilled by their local authority as soon as possible. If businesses have any enquiries about their eligibility, they should contact their local authority.

 

Small Business Grant Funding

The Government will provide a one-off grant of £3,000 to small businesses that already pay little or no business rates because of the Small Business Rate Relief (SBRR). This funding is to support small businesses help meet their ongoing business costs. This will provide £3,000 to around 700,000 business currently eligible for SBRR or Rural Rate Relief, to help meet their ongoing business costs. Businesses eligible for the newly expanded retail discount may need to apply to their local authority to receive the discount.

 

Coronavirus Business Interruption Loan Scheme

The Government will launch a new, temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, to support businesses to access bank lending and overdrafts. The Government will provide lenders with a guarantee of 80% on each loan (subject to a per lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The Government will not charge businesses or banks for this guarantee, and the Scheme will support loans of up to £1.2 million in value.

 

HMRC Time to Pay

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC's Time To Pay service. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities. Businesses can contact HMRC's new dedicated COVID-19 helpline from 11 March 2020 for advice and support.


For more information about any of the measures the Government has announced to support public services, people affected by COVID-19 and businesses experiencing increases in costs of financial disruptions, click here.

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