90% of UK SMEs are waiting to be paid for work done since March 2020, according to research by fintech business lender Market Finance
UK’s banking and finance sector is taking the necessary steps to helping British businesses pick up the pieces
In the UK, over £7.25 billion has been paid to more than 40,500 businesses under the government’s Coronavirus Business Interruption Loan Scheme (CBILS).
The coronavirus lockdown is turning into an endurance test for everyone but it is especially difficult for the business community who must contend with the financial shock caused by the enforced interruption of trade and the continuing uncertainty.
Recent research by Bottomline into the thorny area of late payments shows that 92% of financial decision makers admit to having paid suppliers late.
The gradual easing of lockdown restrictions will give business owners hope that some of the most challenging trading conditions in recent memory are behind us.
2020 has brought SMEs their biggest ever challenge to date. The coronavirus pandemic threatens their existence as economies adjust to the financial turmoil started by this invisible enemy.
On 20th May, applications officially opened for the Treasury’s £500m ‘Future Fund’ - a taxpayer-funded coronavirus relief pot for businesses that cannot access other government relief programmes.
Didier Dumont, President of Sodexo Mobility & Expense, describes how a corp-up alternative is the new way of finding support for startups.
SMEs welcomed the launch of the Coronavirus Business Interruption Loan Scheme, but it got off to a slow start. Here are a few tips for how your business can accelerate the application process.