Covid-19 has been a challenge for all of us. It has presented a completely unique and unprecedented obstacle for small businesses as well as causing a global economic crisis. In the centre of it all, millions of small business owners are wondering how they can recover.
But it’s not just the recovery that’s important. After the coronavirus outbreak, which is still just as severe as when it started, how are small businesses supposed to thrive? The world can feel pretty hopeless at the moment, but we are here to help your small business make it through.
Micro, small, medium and large businesses need all the support they can get in these really trying times for business. This includes the self-employed, employees and those working in the gig economy. Below is a summary of the additional measures the Government announced on the 5th of November 2020 by the Chancellor.
One reality all business owners need to face, in some form or shape, is the impact of the predicted economic slowdown on your business. It’s either going to impact directly, because of the sector or industry you are in, or indirectly, through the customers or clients that buy from you.
Some clients of mine have said they have done pretty well during the height of the COVID-19 crisis, but are now feeling the impact because now their client’s clients have less disposable income. Be it B2B or B2C the story is the same. The guidance given here is about how to pull through such situations as best as possible.
After 3 months of COVID-19 and during this response phase to the attack, how have some of the finance packages the government put in place been responded to by businesses in the UK. Apart from the premises business rate related grants and the job retention scheme, some of the other popular funding support schemes that businesses have responded positively to are:
Has this been a load of hype or have they been accessible real solutions. How have they done so far?
You have probably been bombarded with information on the above measures that the Government has taken to support and protect businesses of all kinds against the impact of the COVID 19 virus in the UK. There is a lot of information going out to businesses and employees at the moment. The information isn't static but evolving daily. I have received many calls and I understand your frustration and concerns. After several conversations with senior staff in Financial Institutions, Trade Body Associations and Funding Associations and reading subsequent follow up documents from the government, things are much clearer. The operational mechanisms for delivery and implementation are still being worked on in some cases.