Let’s start with a deep breath and taking a moment to just acknowledge we are doing the best we f**king can!
I want to talk about the Coronavirus Business Interruption Loan Scheme, as so many of you have reached out to me to say that banks have refused you these emergency loans. In this Business Bulletin I am going to talk through what the scheme is, some of the issues I’ve heard you facing and the latest update from the Government on this scheme.
A report was released suggested that almost one million small businesses could collapse within the next month (that’s a fifth of small UK businesses disappearing this April!) as they struggle to secure emergency funds meant to support them through the coronavirus lockdown. Now, remember that small & medium businesses make up 99.9% of all private sector businesses in the UK – so this is BIG DEAL!
Thankfully, the Business Secretary Alok Sharma told the country that “Banks must not deny help to businesses and that the Chancellor will be saying more on helping businesses access the support they need in the coming days”. So keep your eyes peeled for our BREAKING NEWS stories.
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