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Why is it important to assess your accounts during COVID-19?

It’s not just the past, but the future you have to consider. Owners and directors of small and medium-sized businesses have come under threat by the COVID-19 pandemic, with many companies having to change the way their business may operate.

Businesses access £35 billion through COVID-19 support schemes

The Government has now delivered almost £35 billion in corporate finance to businesses affected by COVID-19, it has been revealed. The figures, published by the British Business Bank (BBB), highlight the importance of the business support schemes three months after shops and workplaces were forced to close their doors. According to the statistics, around 750,000 …

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Trade Credit Reinsurance scheme to support 630,000 UK businesses

More than 630,000 UK businesses have been given the confidence to trade during Covid-19 after the Government announced guarantees of up to £10 billion to Trade Credit Insurance schemes. Trade Credit Insurance enables businesses to trade safe in the knowledge that they will be protected if a customer defaults or delays on payment. According to …

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The Coronavirus Business Interruption Loan Scheme (CBILS) and how to apply

first published March 27 2020. Revised update April 6 2020 The Government has announced significant revisions to the Coronavirus Business Interruption Loan Scheme (CBILS) that come into effect from Monday 6 April 2020, opening up the scheme to a wider range of businesses. The Scheme provides UK-based SMEs with turnovers of up to £45 million …

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Enterprise Finance Guarantee scheme – eligibility restrictions for small businesses

The Enterprise Finance Guarantee (EFG) supports small businesses by providing finance to smaller businesses that cannot obtain finance from their lender because of insufficient security. The British Business Bank has now announced that a number of eligibility restrictions are in place because of the European Union’s (EU) state aid rules.