Page 6 - BOSS Today Issue 47

BOSS Today #47 SUPPORT

BOSS Business Impact 71% have experienced debtors

Survey Findings withholding payment due to
the uncertainty

27% support critical services 91% are concerned about the long
is the average proportion of
respondents whose businesses
term survival of their business
beyond 6 months

-65% average change in order 38% say they need emergency assistance

to ensure that they have sufficient
levels from the expected
cash flow to cover costs and survive
monthly level

LOBBYING EFFORTS

On the 20th of March we called for: On the 23rd of March we launched:

n The extension of Business Rates business impact survey (thank COVID-19 Business Interruption
Relief beyond the retail, leisure A you to all who responded) which Loan Scheme (CBILS)
and hospitality sectors, in order has allowed us to feed in the impact For the Government to engage in
to match the economic impact COVID-19 is having on our sector to additional dialogue with lenders
being felt more widely across UK the Department of Business, Energy taking part in the CBIL Scheme, to
business. & Industrial Strategy (BEIS). ensure that lenders are interpreting
n Widening of the key worker the Government’s intentions
category to include skilled workers On the 30th of March BOSS, along correctly. This will help businesses
in key manufacturing supply chains with our partner BPIF, called for to feel secure about the Scheme,
n Deferment of VAT, PAYE and further measures in relation to the increase uptake and – importantly
NIC payments, direct support Job Retention and CBIL schemes: – improve confidence that the
for companies and individuals to Government’s good intentions to
reduce and avoid the impact of Job Retention Scheme support businesses are being realised
layoffs, 6 months’ delay to the Flexibility in what has already been by the banking industry.
implementation of the increase in laid out by the Job Retention Scheme,
the National Minimum Wage particularly around the furloughing We are pleased that the Chancellor
n Specific and immediate support and of workers. We continued to highlight has now announced that the
guidance to lend confidence that adjustments the Government could requirement to offer commercial loans
employees can be retained and paid make which would remove some of first has been removed and that the
during the business downturn the confusion, inject flexibility and personal guarantee requirements
n Measures to help the affected staff make the scheme generally more for loans up to £250,000 have been
of companies having to consider effective. removed by at least nine of the main
lay-offs. lenders.

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