The business group identified six elements to help firms prepare.
The cash boost will be made available from 31 July 2021.
Around four million UK workers were furloughed at the end of December.
Around 15% of businesses are at “great risk” of imminent closure
Employees’ salaries currently attract more in tax than self-employed individuals.
Unemployment increased to 5% in the three months to November 2020.
Fines to kick in after 28 February 2021.
The proportion of borrowing £1,000 or more increased to 45%.
Taxpayers could face fines totalling to £250 million.