Essential business resources for the lockdown period
As the lockdown period endures, many fashion businesses, from retailers to designers, have been affected. Given that this is such a unique period in history, there is no one expert on the matter. However, many associations, organisations and industry bodies within our community have offered their guidance and support. We’ve put together a list of some of the essential resources to help you steer your business through this difficult time.
The British Independent Retailers Association are offering tangible advice and guidance on the coronavirus pandemic and what this means for the UK’s independent retailers. They are offering free temporary membership for three months to any business who signs up before 30th June 2020.
Business Interruption Loan Scheme
The Coronavirus Business Interruption Loan Scheme is a government-backed scheme designed to support small and medium-sized businesses, to access interest-free loans, overdrafts, invoice finance and asset finance of up to £5 million for up to six years. All major UK banks are taking part, with no upfront costs or requirements for a personal guarantee.
Cash grants for bricks and mortar retailers
The Retail and Hospitality Grant Scheme provides businesses in the retail, hospitality and leisure sectors with a cash grant of up to £25,000 per property.
UK Fashion Council Emergency Fund
The BFC have recently announce £1million of emergency funding, to support small designers and fashion brands and help them to survive the period. A portion of the funds will also be designated to help fashion students, protecting the future of creative design.
KFT Coronavirus Resources
The UKFT are working on a series of guides and downloads to be published as the situation progresses. Keep an eye on their coronavirus hub for the latest advice.
Our partners at TheIndustry.fashion have opened up their entire website, to allow fashion businesses access to all the latest news and developments within the industry, as well as essential updates regarding the pandemic.
We will be updating this page with links and information so please check back regularly. If you would like to share your stories across our website and social media channels, please get in touch.
This post was created by Pure London editor Emma Wilder