Covid-19 - a worldwide economic threat to UK businesses
SMEs: We are still here, at work … ready to help you keep your business in business
SMEs and owner-managed businesses in the UK are likely to bear the brunt of the economic effects of the Coronavirus (Covid-19) pandemic.
With many business cashflows drying up due to the medical necessity to ‘lockdown’ UK activity, finance to remain in business, staffing and future strategy are top of business agendas.
The Government has announced a massive ‘raft’ of supportive measures including Business Interruption Loan Schemes, a furloughing Job Retention Scheme, and banking assistance on personal loans, credit cards and overdrafts. Economic funding of more than £400billion is available from the Government.
All this funding assistance is helpful in these unprecedented times. However, not all will be relevant to every business or individual worker. Astute and careful adoption of the correct Government measures will be necessary – in order to survive and prosper when the Covid-19 crisis is overcome.
Vale & West stands ready to advise and will keep you up-to-date with all the latest Coronavirus (Covid-19) business guidance and support. Read our update roundup here.
If you need professional support or advice with any matters covered in this Vale & West update, please speak to a member of our team today.