Archive for April 2020
Coronavirus Business Impact Tracker: Loan schemes still slow
BCC Coronavirus Business Impact Tracker: Loan schemes still slow to help many cash-strapped firms – but furlough scheme preventing redundancies Results from the latest BCC Coronavirus Business Impact Tracker reveal the majority of businesses surveyed ahead of changes to the scheme announced on 27 April did not intend to seek financial support through CBILS bank…
Read MoreUK Finance’s update on CBILS applications – BCC
Commenting on the latest UK Finance update on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said: “The increase in companies accessing CBILS is encouraging progress. However, the number of applications processed and approved will need to be increased significantly in what is a crunch week for firms urgently…
Read MoreBCC Coronavirus Business Impact Tracker: More than 70 per cent of firms have furloughed staff
Results from the latest BCC Coronavirus Business Impact Tracker reveal that the vast majority of businesses surveyed have furloughed a proportion of their workforce, and are awaiting funds from the Coronavirus Job Retention Scheme as payday approaches for many. 71 per cent of survey respondents have furloughed staff, up from 66 per cent last week Cash flow remains a…
Read MoreFuture Fund – BCC responds to announcement
Welcoming the Chancellor’s announcement of a Future Fund, supporting start-ups by delivering an initial commitment of £250m of new government funding which will be unlocked by private investment on a match funded basis, BCC Head of Economics Suren Thiru said: “The Future Fund will help provide urgently needed support for many of our most innovative and fast-growing businesses around the UK, as we have urged. “The fund…
Read MoreBCC responds to extension of furlough scheme
Commenting on the Chancellor’s announcement today (17 April) that the Coronavirus Job Retention Scheme will be extended by one month until the end of June, BCC director general Adam Marshall said: “Businesses will be pleased that the Chancellor has responded to their calls for the Job Retention Scheme to be extended. This common sense move…
Read MoreHS2 CEO welcomes Government approval to issue Notice to Proceed
Following on from the publication of the Oakervee Review and the Government’s decision in February to continue with the HS2 project, today (Wednesday 15 April) the Department for Transport (DfT) has given approval for HS2 Ltd to issue Notice to Proceed (NtP) to the four Main Works Civils Contractors working on the project – SCS…
Read MoreBCC Coronavirus Business Impact Tracker: Two-thirds of respondents awaiting funds from furlough scheme as payday approaches
Results from the third BCC Coronavirus Business Impact Tracker reveal that the majority of businesses responding to the survey have now furloughed a proportion of their workforce, and are awaiting funds from the government’s Job Retention Scheme to enable them to pay staff. 66% of survey respondents have furloughed staff in anticipation of scheme going…
Read MoreBCC Coronavirus Business Impact Tracker: Businesses not yet successfully accessing government loan and grant schemes
Results from the second BCC Coronavirus Business Impact Tracker reveal that most businesses have not yet successfully accessed the government’s Coronavirus Business Interruption Loan Scheme (CBILS) and the grants for small businesses. Just 1 per cent of firms had successfully accessed CBILS and 7 per cent are receiving grants 57 per cent of firms have…
Read MoreBCC responds to boost for Coronavirus business support schemes
Welcoming Chancellor Rishi Sunak’s announcement on measures to boost financial support for businesses affected by Coronavirus, BCC Director General Adam Marshall said: “We’re pleased that the Chancellor is listening and responding to the real-world concerns of firms across the UK who are urgently trying to access financial support. “Improvements to the Coronavirus Business Interruption Loan…
Read MoreBCC Coronavirus Business Impact Tracker
First results show heavy toll on UK business communities as majority of firms face cash flow crisis Results from the BCC’s first Covid-19 Business Impact Tracker paints a concerning, if unsurprising, picture for business communities affected by Coronavirus. • Sharp and significant fall in domestic and overseas revenue for UK businesses • The majority of…
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