Category: Corporate

Coronavirus loan scheme expanded to more businesses

The list of small businesses that can apply for assistance under the Government-backed Coronavirus Business Interruption Loan Scheme (CBILS) was significantly expanded on the 30th July 2020 to include all firms “in difficulty”.

Foreign direct investment surges ahead of the end of the Brexit transitional period

A surge of foreign direct investment in the UK (defined as an investment in the form of a controlling ownership in a business in one country by an entity based in another country) resulted in the launch of 1,853 new projects in the 2019/20 tax year, it has been revealed.

Almost one in three businesses “expect redundancies”

A major study has revealed that almost one in three businesses expect to decrease the size of their workforce in the next three months due to the coronavirus.

60% of small businesses report late payments throughout coronavirus pandemic

More than three in five small businesses have reported “late or frozen” payments throughout the Covid-19 pandemic, a major study has revealed.

Only 20% of loan applications approved under the Coronavirus Business Interruption Loan Scheme

Official figures have revealed that the Coronavirus Business Interruption Loan Scheme (CBILS) has now raised over £1.1 billion for small and medium-sized enterprises (SMEs), however, just over 6,000 of over 28,000 applications have been approved, suggesting more needs to be done to get cash into the hands of struggling businesses.