David Azzato Analyses the COVID-19 Relief Plan for UK Entrepreneurs

David Azzato is an entrepreneur and angel investor based in the UK. He has great knowledge and expertise in issues related to business, and he often talks about entrepreneurs and reviews the business world often. David is probably best known for his unique advice and tips on topics related to business. Through the Medium platform, David has shared his wisdom on the changing markets, and these tips guide businesses and managers in making the right decision.

COVID -19 is a global pandemic that has affected numerous businesses. The pandemic caused so much confusion and complications such as lockdowns that have brought numerous disruptions to the business world. Through it all, some businesses have managed to keep their business operational. However, others had to close down their business due to financial challenges.

David Azzato states that England is now emerging out of the Lockdown. The government is planning on offering financial assistance to the 2 million entrepreneurs who wish to revive their businesses. The UK government has delegated a substantial sum of money for relief plans for entrepreneurs that have been impacted negatively by the pandemic. According to David Azzato, the money will support self-employed entrepreneurs and those businesses that have been affected significantly by the COVID-19 outbreak. Additionally, the government has put forward a job retention scheme that will aid enterprises in paying their workers. The relief also includes tax relief and business rates relief. David adds that the government has introduced the Coronavirus Business Intermediate Loan Schemes to help business revive their operations after a challenging period.

The business interruption loan is available for small, medium, and large businesses. To qualify for the loan, entrepreneurs have to prove that they own a business in the UK and face financial challenges due to the pandemic. The government has a variety of loans that cater to different needs and requirements. Therefore, business owners can choose the type of loan to apply for depending on their financial predicaments. Financial assistance will ensure that entrepreneurs get their businesses on their feet.

David Azzato explains that though these relief plans are ideal for business owners, they have left out entrepreneurs who rely on the divide as their sole source of income. The treasury is reluctant to provide such support because they cannot distinguish between dividends earned from work and passive investments dividends. However, the government is coming up with a grant-based rescue plan for these business owners.

Learn more: https://www.quora.com/profile/David-Azzato