Chancellor Rishi Sunak announces measure to help self-employed during coronavirus shutdown

The video discusses a comprehensive economic plan to support jobs and incomes amid the coronavirus crisis. It highlights the coronavirus jobs retention scheme, which helps protect thousands of jobs, and provides guidance for businesses. Small businesses benefit from interest-free loans and local authorities are waiving business rates for many sectors. Additionally, a hardship grant scheme offers cash grants to the smallest businesses. Businesses are encouraged to explore available support before considering layoffs.

What is the significance of the coronavirus jobs retention scheme mentioned in the text?

What should businesses do before deciding to lay off staff?