Chancellor Rishi Sunak has announced the extension of the Government job retention scheme until the end of October.
Mr Sunak says the furlough scheme to pay wages of workers on leave because of coronavirus has already supported 7.5 million jobs in the UK and almost 1 million businesses
It will be extended for four months until the end of October. No changes will be made to the scheme until the end of July.
The chancellor said that from August the scheme will continue, but offer more flexibility to support a transition back to work.
The Self-Employment Income Support Scheme (SEISS), meanwhile, has opened for applications.
Announced last month, the SEISS opened on Wednesday, 13 May.
Self-employed workers financially hurt by the coronavirus will be able to reclaim 80% of their monthly profits for three months, up to a maximum £7,500.
Our Workforce Lead Kris Ambler said: “This announcement will be welcomed by our members, many of whom are self-employed.
“For some this support won’t come soon enough and we hope that payments will arrive before the end of this month as indicated by finance minister Rishi Sunak.”
Visit our FAQs for more information on the furlough and SEISS schemes, including how to apply.
FAQs: Coronavirus and your business
Guidance for BACP members who are self-employed or work for small organisations
Emergency funding for UK community and voluntary organisations
Details of funding initiatives to help support charities and social enterprises through the coronavirus crisis.
Guidance and resources for members