Figures show that more than 1.6 million firms used the government’s emergency loan schemes to keep trading and minimise job losses. The schemes included the Bounce Back Loan Scheme, Coronavirus Large Business Interruption Loan Scheme, Coronavirus Business Interruption Loan Scheme, and the Covid Corporate Financing Facility. These schemes have provided…
The coronavirus pandemic has tested businesses’ operational resilience, highlighting areas where there is still work to be done as firms try to build further resilience in case of future emergencies and interruptions. With the government warning that another novel pandemic remains a “realistic possibility” before 2030, now is the time to…
The traditional bank lending outlook post-coronavirus remains unclear. Banks are encouraged by the government to favourably consider customer forbearance requests and this is both expensive and disturbing for the banks. In such circumstances, banks tend to limit their future lending, particularly to small businesses that are perceived as higher risk….
Protecting cash flow has been the priority for most businesses amid the coronavirus pandemic. Around 80% of small and medium-sized businesses in the UK have seen revenues decline as a direct impact of the COVID-19 crisis, McKinsey research shows. This has led to a number of capital-related concerns. One in…
It’s been a tough year for manufacturers, just as it has been for so many businesses. Manufacturing output has fallen off a cliff as new orders took a nosedive and existing contracts were deferred or cancelled. But there are signs that things are now starting to stabilise, and optimism among…
Every business lives and dies by its finances. But never before has cash flow been more precarious than it is now, with some businesses seeing sales driven down by as much as 50% throughout 2020/21. While a range of government financial support has been available throughout the coronavirus pandemic, the…
The transport and logistics industry has been dubbed the ‘unsung heroes’ of the COVID-19 pandemic. It has continued to work tirelessly throughout all three lockdowns, hauling everything from food for the supermarkets to vaccines for vaccination centres. The industry’s importance was underlined in January when the Department for Transport confirmed…
Even in more normal times cash flow in any business is the number one priority. When businesses do fail, 82% do so because of negative cash flows. It is vital your business prioritises generating and maintaining cash to survive these difficult times. The coronavirus pandemic has made it hard for…
There’s never a bad time to invest in top-of-the-range security equipment. However, with the current lockdown resulting in fewer cases of theft and burglary, now might be the best time to ensure that you’re prepared for a potential ‘bounce back’ in crime once restrictions are lifted and normality is restored….
