{"id":12401,"date":"2020-08-18T14:20:47","date_gmt":"2020-08-18T14:20:47","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=12401"},"modified":"2022-05-04T21:37:54","modified_gmt":"2022-05-04T21:37:54","slug":"over-10000-sme-owners-apply-for-sme-recovery-grant-as-coronavirus-takes-toll-on-small-businesses","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/over-10000-sme-owners-apply-for-sme-recovery-grant-as-coronavirus-takes-toll-on-small-businesses\/","title":{"rendered":"Over 10,000 SME Owners Apply for SME Recovery Grant As Coronavirus Takes Toll On Small Businesses"},"content":{"rendered":"

\"\"<\/p>\n

Over 10,000 SME owners have applied for a single \u00a310,000 Business Boost grant as Covid-19 takes its toll financially on small businesses<\/p>\n

Covid-19 has had a significant impact on SME owners, with a recent study showing two thirds (67%) were forced to stop trading temporarily and an estimated 234,000 permanently shut down<\/p>\n

Small business owners can still apply for the Business Boost grant\u00a0here<\/a><\/strong>. Applications are open until Monday 28 September<\/p>\n

 <\/p>\n

Over 10,000 SME owners have applied for a single \u00a310,000 Business Boost grant from insurer Simply Business, as the coronavirus continues to take its toll financially on small businesses.<\/p>\n

Simply Business<\/a>\u00a0launched the grant at the beginning of 2020 to help give a boost to small businesses, but saw a wave of applicants in grave need of financial help after lockdown hit. It comes as many SMEs have found themselves unable to access enough government support, or any at all.<\/p>\n

Coronavirus has had a significant impact on the self-employed. A recent study of over 3,700 small business owners by Simply Business found that two thirds (67%) were forced to temporarily stop trading, and an estimated 234,000 SMEs have already shut down.<\/p>\n

SMEs also estimate that Covid-19 will cost them \u00a311,779 each on average, in lost work, loan repayments and lost earnings. With over 5.8 million SMEs in the UK, accounting for over 99% of all businesses, the total cost to UK SMEs could reach over \u00a369 billion.<\/sup><\/p>\n

Two-fifths (41%) are also at risk of having to permanently close their business \u2013 and this is even before a second lockdown.<\/p>\n

Small business owners can still apply for the Business Boost grant\u00a0here<\/a>. Applications are open until Monday 28 September and the shortlist will be announced by 9 October The winner will be announced in early November.<\/p>\n

Bea Montoya, COO at Simply Business, commented<\/strong>: \u201cWe\u2019re astonished by the number of applications we\u2019ve received for our Business Boost grant. We know the devastating impact Covid-19 has had on small businesses, with lockdown costing them \u00a311,700 each on average. Almost half expect to lose up to \u00a310,000, which can be a significant amount of money for the self-employed.<\/p>\n

\u201cSMEs account for 99% of all UK businesses, and contribute a combined \u00a32 trillion annually. Put simply, we need small businesses to bounce back if we\u2019re to recover economically.\u201d<\/em><\/p>\n

\u201cThat\u2019s why we’re giving away \u00a310,000 to one entrepreneur \u2013 to help them start or revive their business, providing a financial boost in these economically challenging times.\u201d<\/em><\/p>\n

\u201cThankfully, the self-employed are resilient. We know that 75% intend to continue or restart their business, while a further 10% even plan to take the leap and start a new one. We\u2019re hoping that our \u00a310,000 Business Boost grant will enable the big dreams of one entrepreneur, and give them the financial help they need during these difficult times.\u201d<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Over 10,000 SME owners have applied for a single \u00a310,000 Business Boost grant as Covid-19 takes its toll financially on small businesses Covid-19 has had a significant impact on SME owners, with a recent study showing two thirds (67%) were forced to stop trading temporarily and an estimated 234,000 permanently shut down Small business owners […]<\/p>\n","protected":false},"author":7,"featured_media":12402,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[3585,3822],"tags":[3468,3711,3993],"acf":[],"yoast_head":"\nOver 10,000 SME Owners Apply for SME Recovery Grant As Coronavirus Takes Toll On Small Businesses - OpenBusinessCouncil Directory<\/title>\n<meta name=\"description\" content=\"Over 10,000 SME owners have applied for a single \u00a310,000 Business Boost grant as Covid-19 takes its toll financially on small businesses\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/over-10000-sme-owners-apply-for-sme-recovery-grant-as-coronavirus-takes-toll-on-small-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Over 10,000 SME Owners Apply for SME Recovery Grant As Coronavirus Takes Toll On Small Businesses\" \/>\n<meta property=\"og:description\" content=\"Over 10,000 SME owners have applied for a single \u00a310,000 Business Boost grant as Covid-19 takes its toll financially on small businesses\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.footballthink.com\/over-10000-sme-owners-apply-for-sme-recovery-grant-as-coronavirus-takes-toll-on-small-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"OpenBusinessCouncil Directory\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-18T14:20:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-04T21:37:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2020\/08\/Unknown.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"275\" \/>\n\t<meta property=\"og:image:height\" content=\"183\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hernaldo Turrillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hernaldo Turrillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.footballthink.com\/over-10000-sme-owners-apply-for-sme-recovery-grant-as-coronavirus-takes-toll-on-small-businesses\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.footballthink.com\/over-10000-sme-owners-apply-for-sme-recovery-grant-as-coronavirus-takes-toll-on-small-businesses\/\"},\"author\":{\"name\":\"Hernaldo Turrillo\",\"@id\":\"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23\"},\"headline\":\"Over 10,000 SME Owners Apply for SME Recovery Grant As Coronavirus Takes Toll On Small Businesses\",\"datePublished\":\"2020-08-18T14:20:47+00:00\",\"dateModified\":\"2022-05-04T21:37:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.footballthink.com\/over-10000-sme-owners-apply-for-sme-recovery-grant-as-coronavirus-takes-toll-on-small-businesses\/\"},\"wordCount\":464,\"publisher\":{\"@id\":\"https:\/\/www.footballthink.com\/#organization\"},\"keywords\":[\"business\",\"business resources\",\"SMEs\"],\"articleSection\":[\"Business Resources\",\"Resources\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.footballthink.com\/over-10000-sme-owners-apply-for-sme-recovery-grant-as-coronavirus-takes-toll-on-small-businesses\/\",\"url\":\"https:\/\/www.footballthink.com\/over-10000-sme-owners-apply-for-sme-recovery-grant-as-coronavirus-takes-toll-on-small-businesses\/\",\"name\":\"Over 10,000 SME Owners Apply for SME Recovery Grant As Coronavirus Takes Toll On Small Businesses - 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