Preparing your business for life after COVID-19
In line with the prime minister’s announcement on Sunday of the gradual easing of lockdown following the COVID-19 outbreak, many businesses and staff are returning to work this week or will be preparing to do so in the coming weeks and months. While normality is still a way off, businesses should be putting plans in place as to how they can restart their operations, implement the appropriate social distancing measures, and begin the road to recovery. However, doing so may...
How to get funding to grow your business during COVID-19
With the outbreak of COVID-19 globally and lockdown measures in place in the UK, much attention has been placed on providing lifelines to businesses struggling during this period. The government has stepped forward with financial schemes and support for businesses during this time, such as the Coronavirus Job Retention Scheme and Coronavirus Business Interruption Loan Scheme. While the focus on keeping businesses afloat during these times is incredibly important, it has left a gap for those businesses who are actually...
Funding options for your manufacturing business
Recent findings from the manufacturers’ organisation Make UK have shown that over three-quarters of manufacturing businesses have seen a reduction in sales and a downturn in output as staff are put on furlough. The findings, published at the start of the month, cast a gloomy picture for the state of manufacturing following the COVID-19 outbreak, and following an OBR forecast of a 55% fall in manufacturing output in the second quarter, Make UK warns that this is likely to be...
How to solve issues with cash flow
Excluding the businesses that had permanently ceased trading, the majority of businesses that responded to the most recent Office of National Statistics COVID-19 business impact survey felt confident they had the financial resources available to continue operating throughout the coronavirus (COVID-19) period. In fact, 6 out of 10 businesses indicated this and only 6% of all businesses responding did not feel confident, with the remainder unsure at the time of their response. However, despite this confidence if businesses are to...