Over the last few weeks, we know small businesses have been hit hard in a number of ways due to the outbreak of Covid-19. And so, for some, running a small business right now may seem overwhelming and uncertain.
We have seen a number of measures proposed by the Government to support businesses in these difficult and unprecedented times. We welcome these and other industry initiatives as small businesses make a hugely important contribution to the UK economy, so it’s vital these businesses safely navigate this difficult period.
It’s a challenging and emotional time for us all – and I want to reassure you that the team at Asto is fully equipped and ready to support you and your business where we can.
Here’s a little more detail on what we’re doing at Asto to help small businesses during this challenging period and how we’re dealing with the current situation.
Continuing to offer finance
Asto exists to support small businesses to run and grow by helping business owners keep cash flowing. We’re dedicated to making finance more accessible to UK small businesses and to providing simple tools to help automate admin tasks so they can keep up to date with their finances.
Our latest finance solution, Business Capital, was built to provide a flexible way for small businesses to get the working capital their businesses need when they need it.
If you’re an existing Asto customer and you’re worried about your Business Capital commitments, please contact us as soon as you can. We’re available to discuss different ways in which we can help you during this time.
Our team is now working remotely, following the Government’s guidelines on working from home and social distancing. Asto is a digital, cloud-based business which has made this shift in ways of working relatively straightforward. Business is, therefore, continuing as usual and we are determined to ensure that our customers receive the support and service that they need during this time.
Asto’s customer support team continues to be available to support your business. If you would like to discuss your current situation or have any questions, you can get in touch with our customer support team on email or by live chat from 9.00am to 5.00pm Monday to Friday (excluding public holidays).
We appreciate your understanding that, in the current circumstances, it might take a little longer than usual to respond. However, rest assured that one of our helpful team members will get back to you as soon as possible.
Other Sources of Support
As well as the support packages announced by the UK government, there are other initiatives that can help small businesses during this period. Here’s a few options that could be of interest to you:
Your bank: If you haven’t already done so, you can ask your bank what additional support they can offer your business. The Bank of England is also launching a fund to help businesses, both directly and through the British Business Bank.
Talk to your bigger customers and clients: Larger companies are usually more prepared for the unexpected. As such, the Government is encouraging them to accelerate their payment processes, so that the smaller businesses they work with receive the capital they need. If you work with a larger customer, it’s worth seeing if they’re in a position to pay you a little sooner than usual.
HMRC: With the end of the tax year approaching, HMRC is aware that not every business will be in a position to pay what’s owed. They’ve opened a dedicated helpline for businesses to contact to discuss their options.
Santander has launched “Overcome this together” , a space that provides information and resources to help people and business deal with the coronavirus crisis.
The Federation of Small Businesses: The FSB has launched a section of their website dedicated to the Covid-19 outbreak and the advice for small businesses. This is continuously updated and is an invaluable resource for those who want fast information and advice on reducing the risks of the coronavirus on your business.
We’re keeping a close eye on this fast developing situation, and stand ready to support our customers, all of whom have put their trust in us to provide them with an excellent service.