27/11/2020 - Until March 2020, the UK economy was strong and low interest rates meant that inexpensive finance was readily available, so businesses geared up to enjoy growth and success. We now see a sudden reversal of fortunes, with Brexit and COVID-19 uncertainty continuing to test resilience and ability to repay.
[Updated 25/09/2020] - Accessing funds via CBILS has become easier but here are our tips for giving yourself the best chance.
11/09/2020 - The window for claiming the second grant under the self-employed income support scheme opened on 17 August and closes on 19 October. Traders do not have to have claimed the first grant to qualify for the second but their business must have been adversely affected by COVID-19 on or after 14 July 2020 to qualify.
10/09/2020 - Some businesses have responded quickly and redesigned themselves for the future following the outbreak of COVID-19 earlier this year. However, many will now be finding themselves in unchartered waters and it could be the first time that they have faced serious difficulties.
16/07/2020 - In June, the FCA announced it was asking around 13,000 firms to respond to a survey considering their financial resilience to help its view of the impact of COVID-19. Separately, the regulator also published its finalised guidance framework for assessing adequate financial resources.
13/07/2020 - There is still much we do not know about COVID-19 and how it will shape the future lives of people in the UK and around the world. However, there are still some things that we do know and businesses can use this knowledge to build base plans, that can become a living breathing part of their strategy to take them forward and rebuild.
12/06/2020 - In the Corporate Insolvency and Governance Bill, the UK government has announced changes to insolvency law designed to protect businesses affected by COVID-19 generally and from action by landlords in response to what has been described as “aggressive rent collection”. Draft legislation has been published with a view to it being passed into law as soon as possible.
01/06/2020 - As the Government imposed lockdown, we explored the immediate action all firms should take to protect themselves financially. We then looked at the lessons to be learned so far from the impact of the pandemic on professional services firms. In this insight we look further ahead, assessing the potential longer-term consequences.
12/05/2020 - Announced on 20 April 2020, the Future Fund is a £500m support package targeted at innovative UK businesses. An initial commitment of £250m will be unlocked by private investment on a matched funding basis for businesses that typically rely on equity investment.
12/05/2020 - For fintechs, like any other business, cash is king, especially during times of crisis. For those fintechs who manage to get the basics right, recovery will come. With it will come potentially game-changing opportunities for growth in a market more open to digitisation than ever before.
07/05/2020 - The adverse effects on businesses, large and small, of the lockdown in response to the Covid-19 pandemic have been well publicised, with new updates published daily.
07/05/2020 - Business owners have been working frantically to keep their businesses going amid the toughest conditions they are ever likely to face. While some have had their end markets cut away by policymakers’ response to the pandemic, others have seen an explosion in new business.
07/05/2020 - For the time being, many businesses are fire-fighting – deciding who to furlough, chasing debtors, shoring up cash flow by raising short-term funds. However, there will be a point at which business starts tentatively to adjust to a new normal. At that point, it may be worth reflecting how your business could become more effective in future.
07/05/2020 - The Bounce Back Loan Scheme (BBLS) is providing access to loans of between £2,000 and £50,000 to support SMEs that are losing revenue and seeing their cashflow disrupted due to the coronavirus. The loan has a flat interest rate, no upfront fees and in the first-year interest costs are covered by the government.
06/05/2020 - The key question – How has an administrator used the property following its appointment?
[Updated 15/05/2020] - This is a uniquely difficult time for many commercial tenants and landlords. The British Property Federation (BPF) alongside its landlord members are working with retail, leisure and hospitality tenant businesses in distress together with other tenants affected by an immediate loss of revenue following the lockdown.
28/04/2020 - The challenging and fast-moving environment that professional practices are operating in during the COVID-19 crisis, has led to some interesting themes emerging.
27/04/2020 - The Chancellor has announced a new support scheme for innovative businesses currently affected by COVID-19. It is aimed at businesses that are not eligible for existing rescue schemes, such as the Coronavirus Business Interruption Loan Scheme ‘CBILS’, and that have typically relied on equity investment
03/04/2020 - Nobody knows the length or depth of the economic fallout from the Covid-19 pandemic. Many businesses will be looking at bank loans to tide them over this period - and possibly for the medium to longer term.
30/03/2020 - In light of the challenging and fast-moving environment professional practices are operating in during the COVID-19 crisis, here is a summary of some key areas to focus on.
[Updated 26/03/2020] - With the ongoing COVID-19 situation, the UK government has announced the ways in which it plans to support UK individuals and businesses through this challenging period.
19/03/2020 - We are now living in unprecedented times. However, we should not overlook the tried and tested ways of coming through unexpected circumstances.
If you would like more information or to discuss how coronavirus will affect you or your business, please contact using the form below.
