Babc Team

Small and medium-sized enterprises (SMEs) are the backbone of the British economy. For tens of thousands of these firms, international trade has become an important element, and sometimes necessity to their success. Yet, building an international business is not easy. It requires resources and support, and most importantly, trading corridors that enable trade ambitions to be realised.
Making A Difference – How a UK-U.S. Free Trade Agreement will Help SMEs Across the UK’ makes a case for why it is right that the UK Government has put SMEs at the heart of its global trade agenda, reflecting the gains that can be achieved if trade barriers are to be removed.
Produced in collaboration between BritishAmerican Business and the UK Department for International Trade, the report summarises the findings from a virtual ‘roadshow’ across the UK, conducted in 2020. 60 growing businesses told us their stories of what makes a difference to them when it comes to trade.
A glimpse of what we learned: There is unprecedented excitement for a UK-U.S. FTA amongst the SME community in the UK. And a successful FTA needs to sit at the heart of a triangle of action and support.
For more information on the report and its findings, read the Press Release here.

Click Here to Read Making a Difference

Making a Difference – Printable Version

Slow connection? You can find a low-resolution versions of the report below

Making a Difference – How a UK-U.S. Free Trade Agreement will deliver for SMEs across the UK

Business support and guidance:

The COVID-19 pandemic is an unprecedented moment for the transatlantic business community that we are proud to represent. This is a crisis that is impacting almost every aspect of our live, a time for decisive and impactful action. Businesses and governments must work hand in hand to help limit and control the impact of this crisis, help manage it, and help overcome it. It is a time where we need to stand together, more than ever before, in the interest of our economies, businesses, workers, and citizens.

Both the United Kingdom and United States Governments have made resources available to businesses and households during this time to enable them to keep operating. Below you will find more information on these resources and how you or your business can access them.

 

United Kingdom

The UK Government announced a package of temporary measures to support business, households, and self-employed workers. This includes:

      • a Coronavirus Job Retention Scheme
      • deferring VAT and Self-Assessment payments
      • a Self-employment Income Support Scheme
      • a Statutory Sick Pay relief package for small and medium sized businesses
      • a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
      • small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
      • grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
      • the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
      • a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
      • the HMRC Time To Pay Scheme

Below you can find information on what these packages contain, eligibility, and how to apply, for more detailed information visit our COVID19 Portal: 

 

The United States

The US Government introduced sweeping legislation to combat the economic damage from the pandemic and support citizens, businesses, hospitals, and more. The CARES Act authorised more than $2 trillion to this effect.

Below you can find information on how to access these funds, as well as further guidance.

 

Transatlantic Travel Restrictions

The Foreign & Commonwealth Office (FCO) advises British people travelling abroad to return to the UK now, if commercial flights are still available. This advice was published on 23 March and takes effect immediately.

International travel is becoming very limited as air routes close, land borders close and new restrictions are put in place that prevent flights from leaving.

If you are already abroad, or are planning essential travel – make sure you read the US Department of State’s Foreign Travel Advisories

  • Travel to the United States from the United Kingdom is currently not possible for most British citizens, due to a restriction imposed by the US Government. You can check the entry requirements for the US here.
  • US citizens and permanent resident of the USA, their close family members and certain other limited categories of visas holders (such as UN staff and diplomats) are exempt and will still be able to enter the USA, subject to normal entry requirements. They are advised to self-quarantine for 2 weeks.
  • the US Government will not permit entry to the USA of any non-US nationals, including British nationals, who have visited (or are resident in) the Schengen Areacountries 14 days or less prior to their travel to the USA.

If you are a US Citizen currently in the UK: 

The U.S. Mission to the United Kingdom has suspended routine consular services.  For emergency American Citizens Services, including emergency passports, please visit our website for additional information at https://uk.usembassy.gov/.

 

BAB COVID-19 UPDATES AND RESOURCES