Coronavirus News
UK enters recession for first time in 11 years
T
he UK has officially entered into recession after the economy shrank by 20.4% between April and June, when compared with the first three months of the year. Household spending dropped as shops were ordered to close, while factory and construction output also fell.
A recession is defined as two consecutive quarters of economic decline. There are signs of improvement already as the Office for National Statistics said the economy grew by 8.7% in June as government restrictions on movement started to ease. However, gross domestic product in June remained a sixth below its level in February before COVID-19 struck.
Self-Employment Income Support Scheme open for second round of applications
T
he government’s COVID-19
Self-Employment
Income Support Scheme (SEISS) is now open for the second round of applications, offering a grant worth up to £6,570. Those eligible will now be able to apply for a second and final grant covering 70% of their average monthly trading profits. The grant will be made in a single
payment, covering three months and capped at £2,190 a month. To apply, the self-employed will need to confirm their business has been affected by the coronavirus on or after July 14, but don’t need to have received the first grant to be eligible for the second.
YR launches mask personalisation service
W
ith face coverings now mandatory in most indoor settings, YR has launched a
mask personalisation service. YR Masks enable customers to purchase washable, customisable, face coverings.
The masks are double layer fabric, with the inner layer being 100% cotton – outer layer is performance fabric with superior wicking (polyester) and have
elasticated straps to ensure a snug fit around the face. YR is best known for its in-store customisation collaborations with big fashion brands such as Michael Kors, Selfridges, Nike and Levi. In recent years, the company has experienced an explosion of interest in product customisation in-store, online and at events. COVID-19 has temporarily stunted YR's growth in live customisation at events but online product personalisation is booming. Tim Williams, co-founder, said: "COVID-19 has been an unexpected challenge for the retail industry and we are one of many businesses affected. But we have seen a 200% increase in enquiries for the YR platform from fashion and accessory brands and I predict the pandemic will not only drive demand for face coverings now but it will be the must-have fashion accessory of the future.”
www.printwearandpromotion.co.uk
The eligibility criteria for the second SEISS grant is the same as for the first grant: ● At least half of an applicant’s total income needs to come from self-employment. ● And, applicants must have had a trading profit of no more than £50,000 in 2018/19, or an average trading profit of less than £50,000 from 2016/17, 2017/18 and 2018/19. Chancellor of the Exchequer, Rishi Sunak, said: “Our self-employment income support scheme has already helped millions of hardworking people, whose get up and go drive is crucial to our economy.
“It means that people’s livelihoods across the country will remain protected as we continue our economic recovery –
helping them get back on their feet as we return to normal.” Applications need to be made by October 19.
Print at home face mask kit launched
I
t is now possible to print your own face masks at home thanks to a new product unveiled by The Printable Mask Co. Now with just the touch of a button, you can co-ordinate your face covering with your outfit using the home printing kit.
MaskOTD has been tested to meet World Health Organisation
guidelines for barrier masks and AFNOR
Print your own mask at home with MaskOTD
guidance on filtration and breathability. Included in the kit is a special QR code guiding the user to an app that features patented technology which creates a template to match that of the image you upload, then allows you to print the image straight onto the cotton inkjet sheets from a regular home printer and construct your own face covering.
September 2020 |17 |
E
Furlough scheme changes for September
mployees which are still furloughed as we head into September will continue to receive 80% of their salary, however 10% of this will now be paid by employers.
The government will pay 70% of wages up to a cap of £2,187.50 for the hours the employee is on furlough.
Employers will pay ER NICs and pension contributions and top up employees’ wages to ensure they receive 80% of their wages up to a cap of £2,500, for time they are furloughed. The furlough scheme ends on October 31.
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