A Glimmer of Hope
w/c 20 April 2020
Winston Churchill once said that “If you’re going through hell, keep going.” and for most businesses, what they are currently experiencing is hell. This week however provided two moments of relief from that underworld during these tense times.
The first light at the end of the tunnel was that grants of either £10,000 or £25,000 have now been received by many businesses from the Government COVID-19 support measures. Although this is a welcome short term relief it is by no means a total solution. Public safety is undoubtedly the number one priority for everyone but if lockdown is to last much longer than these next three weeks then many business owners will be thinking the same thing - how do we last this out? If this is you then the first action you need to take right now is to ensure you have claimed for everything that you are eligible for. The Government have launched a new, easy guide which indicates what support measures you can claim and can be found on their website. The second action will be reviewing your business plans and budgets. What can be cut? What can be introduced? Can you diversify your business to take it online?
The other relief has come from the Government opening applications for their COVID-19 Job Retention Scheme. Despite the daily strain it has had on cash flow, many business owners have taken the hit themselves in these last few weeks so they could stand by their loyal and hardworking employees to ensure they still received a weekly wage. With the applications for furlough reimbursement now open and the promise of it being paid within six days then this is sure to be one less worry for businesses of all sizes.
I look back again to Churchill’s quote and note that he says “keep going” and this is what we must do. Yes there are worries but we are town full of innovative entrepreneurs that rally around each other in times of need. Let us lean on each other to provide support, share advice and work together where possible.
- Suzanne Gloyne