Cost of living support for businesses
Find out about support available for your business if you need help with the cost of living.
Support for medium sized or small businesses
If your small business meets certain criteria you might be classed as a microbusiness.
In some cases, a microbusiness will have extra protections with energy contracts compared to small to medium enterprises, and large businesses.
You can check if your business could be classed as a microbusiness on the Citizens Advice webpage.
Ofgem has provided more information including links to further guidance on their energy advice for microbusinesses.
Recovery Loan Scheme
The Recovery Loan Scheme is a government scheme that supports small and medium sized businesses to access the finance they need to grow and invest. Eligible businesses can receive loads of up to £2 million.
You may be eligible for a loan through the Recovery Loan Scheme if your business:
- is trading in the UK
- has a turnover of £45 million or less
You also need to show that your business:
- is viable
- is not in difficulty
If you need more advice
Southwark Energy Service is delivered by Citizens Advice Southwark who can provide advice and support for paying your business’s energy costs.
Business Debtline, is a charity that provides free and independent debt advice over the phone and online. It also provides a range of debt advice factsheets on topics ranging from business debts, and debt solutions to dealing with creditors.
Guidance from the British Business Bank has published guidance on how smaller businesses can tackle the cost of living, reduce costs and build financial resilience.
Support in raising a complaint
Ofgem, the UK Office of Gas and Electricity Markets has guidance for getting help if your business can't afford its energy bills,
If you are a domestic or micro business consumer of an energy company, you have the right to raise a complaint with the Energy Ombudsman. You should always contact your supplier first.
HM Revenue and Customs (HMRC) allow you to pay your self-assessment tax bill in instalments if you cannot afford to pay it in full (Time to Pay scheme).
Support to find and advice about business property
The London Business Hub Cost of Doing Business Hub provides practical guides on the steps you can take to protect your business, avoid cash flow problems and manage business finances.
Hiring a workspace
You can check our property and space information you if want to hire a flexible workspace or find a premise to hire that we’ve assessed on our workspace provider list.
Other support to help your business thrive
Start-up support
Southwark Pioneers Fund is a programme of support for business founders and aspiring entrepreneurs in Southwark. Find out more about the support to launch and grow your business.
Help to grow your business
The London Business Hub supports small businesses by providing them with the tools they need to thrive and recover. Southwark businesses can access unbiased business support, including help with business planning, sales and marketing.
The government-funded business support helpline provides help with starting and running a business
Get a grant or loan to grow your business
The Growth Impact Fund provides social investment for early-stage, growing organisations that are committing to growing their teams’ diversity and tackling inequality in the UK.
Find out more about business recovery loans and accredited lenders
Help with recruitment
Southwark Works provides free recruitment services and help if you are recruiting for vacant positions.
Page last updated: 18 December 2023
