BCC responds to 14-day quarantine for air passengers
Responding to the planned government announcement of a 14-day quarantine for all air passengers arriving in the UK, BCC Director General Adam Marshall said: Business communities in the UK and around the world will be deeply concerned by the decision to impose a blanket quarantine for international arrivals. This approach will damage international business and investor confidence at a time when it is vital to demonstrate that the UK can open for business safely. Co-ordinated checks at departure and
BCC responds to Prime Minister’s announcement on reopening of the retail sector
Commenting on the Prime Minister’s announcement on the phased reopening of the retail sector in England, related workplace guidance and enforcement powers, BCC Director General Adam Marshall said: Clarity and guidance on plans for a phased reopening of the retail sector will be welcomed. Businesses will be taking a safe, proportionate and risk-based approach to returning to work, in close consultation with their staff. For many this will be an entirely new way of operating as they apply guidance to the
BCC Coronavirus Business Impact Tracker: Firms begin to reopen but one in ten cannot implement gover
Results from the latest BCC Coronavirus Business Impact Tracker reveal that the majority of firms surveyed are in a position to partially restart operations as lockdown restrictions are eased: 83 per cent of respondents report that they know some or a lot of details about government guidance on working safely 37 per cent of firms report they can implement the guidance and fully restart, and 45 per cent report they can partially restart 85 per cent of respondents have received payment from furlough
BCC responds to publication of UK trade tariffs
Commenting on the publication of the UK Global Tariff that will apply to imported goods from 1 January 2021, BCC director general Adam Marshall said: The publication of the UK Global Tariff provides welcome clarity for businesses as they prepare for life outside of the EU. While the new tariff regime will provide the government with some leverage in future trade talks, it also demonstrates the importance of reaching a UK-EU agreement to avoid substantial increases in costs for businesses on both
BCC responds to extension of the CLBILS scheme
Commenting on the extension of the CLBILS scheme, including extending the lending limit to £200m, BCC Head of Economics Suren Thiru said: It is good to see the government continue to listen to business concerns and make improvements to existing schemes. These important changes could make a real difference to larger firms in particular and alongside the other lending support schemes will help ensure that more businesses of all sizes get access to the finance they need to help weather this
BCC responds to ONS Q1 2020 GDP stats
Commenting on GDP statistics for Q1 2020, published today (13th May) by the ONS, BCC Head of Economics Suren Thiru said: The contraction in UK GDP in the first quarter underscores the negative impact that coronavirus had on the economy, even at its earliest stages. The quarterly decline was driven by a sharp drop in monthly GDP in March with activity in all sectors contracting as the UK went into lockdown. The speed and scale at which Coronavirus has hit the UK economy is unprecedented and means that
BCC responds to launch of government guarantee to support provision of trade credit insurance
Commenting on the launch of a temporary government backed guarantee to support the provision of trade credit insurance for businesses, BCC Director General Adam Marshall said: The government has demonstrated once again that it is listening to the concerns of our business communities. The launch of a government-backed guarantee to support the provision of trade credit insurance will help ensure that this vital lifeline remains available to businesses during and after this crisis, helping to maintain
BCC Coronavirus Business Impact Tracker: Firms ready to embrace ‘new normal’ but government support
Results from the latest BCC Coronavirus Business Impact Tracker reveal that firms are ready for a gradual reopening of the economy but will need continued, adaptable government support during a phased return to work. Over 70 per cent of respondents have furloughed a portion of their staff Nearly three quarters of these firms have submitted a claim to the furlough scheme and received payment The Job Retention Scheme has prevented redundancies for vast majority of respondents The leading business
BCC responds to Government’s Covid-19 recovery strategy and workplace guidance
Commenting on the publication of the UK Government’s COVID-19 recovery plan and associated workplace guidance, BCC Director General Adam Marshall said: This is a significant step forward in terms of the information available for businesses, who will now need to digest the detail. The guidance signals big changes for the way that many businesses operate, and some firms will now need time to plan and speak to their employees so that they can return to work safely. Alongside this guidance, businesses
BCC responds to Sunak announcement on extension of the Coronavirus Job Retention Scheme
Commenting on the Chancellor’s announcement today (12 May) that the Coronavirus Job Retention Scheme will be extended to October, BCC Director General Adam Marshall said: The extension of the Job Retention Scheme will come as a huge help and a huge relief for businesses across the UK. The Chancellor is once again listening to what we’ve been saying, and the changes planned will help businesses bring their people back to work through the introduction of a part-time furlough scheme. We will engage with
BCC comments on Prime Minister’s address and next stage of Coronavirus response
Commenting on the Prime Minister’s address this evening (10 May) in which he set out a conditional plan for the next phase of the response to Covid-19, BCC Director General Adam Marshall said: Businesses share the Prime Minister's ambition to see more people return safely to work over the coming weeks. Companies will do everything they can to protect employees and customers, maintain social distancing and operate successfully as more sections of the economy are permitted to re-open. Businesses
BCC responds to the latest UK Finance Coronavirus Business Interruption Loan Scheme update
Commenting on the latest UK Finance figures (7 May) on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said: Although the steady improvement in the number of firms accessing CBILS is welcome, with many firms only having a few months' cash in reserve the pace of delivery remains disappointingly slow.The strong start made by the Bounce Back loan scheme is encouraging for the smallest businesses that are struggling to stay afloat. However, more needs to be done to
BCC comments on start of formal UK/US trade negotiations
Commenting on the news that the UK and US are to open formal negotiations on a future free trade agreement, BCC Director General Adam Marshall, said: While most UK businesses will be focusing on the immediate challenge posed by Coronavirus, strong trading arrangements with both the European Union and USA will support recovery and future growth. The government has set a high ambition for UK-US talks, and it will be particularly important to get the details right over the coming months to ensure that any
This is a time to be bold: BCC sets out principles for safe restart of UK economy
Open letter to Prime Minister published as government mulls plan to lift lockdown British Chambers of Commerce President, Baroness Ruby McGregor-Smith, has written an open letter to the Prime Minister setting out principles for a phased restart of the UK economy. The leading business group set out its integrated approach, the first step in a three-stage process, as the government prepares to ease initial lockdown restrictions. The letter reads: “The fight against the virus must remain the top
BCC Coronavirus Business Impact Tracker: most firms can be ready for ‘restart’ within three weeks
Results from the latest BCC Coronavirus Business Impact Tracker reveal the vast majority of firms surveyed say they will require three weeks or less to prepare to restart operations alongside any loosening of the UK lockdown. Smaller businesses may be able to restart operations more quickly. Almost two-thirds (64 per cent) of respondents employing fewer than 10 people say they would need less than one week, compared to half (50 per cent) of respondents with more than 50 employees. For firms of all
Resurgam! Plymouth's economy to rise again
Council leader Tudor Evans has pledged to lead from the front the city’s economic recovery programme out of the COVID-19 lockdown. At Cabinet today (Tuesday 5 May) he will announce plans to help Plymouth’s businesses get back to work through Resurgam - a programme to oversee recovery across all sectors. The name is Latin for ‘I shall rise again’ and the word became part of Plymouth’s history when it appeared on a wooden sign over the bombed out St Andrew's Church during the Blitz. Councillor Evans
BCC responds to announcement of a discretionary fund for small businesses
Commenting on the government’s announcement today (2 May) of a discretionary fund for small businesses that have previously been outside the scope of the business grant funds scheme, BCC Director General Dr Adam Marshall said: We have been calling for additional support for businesses and entrepreneurs who have fallen between the cracks, so it is welcome to see additional funding allocated to support some of these hard-pressed firms. Clarity and speed are of the essence. Many of the companies that have
BCC responds to UK Finance’s update on Covid-19 Business Interruption Loan Scheme applications
Commenting on UK Finance’s latest figures (30 April) on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said: While the number of firms accessing CBILS is on an encouraging upward curve, a concerningly high number of firms continue to struggle to access this crucial lifeline. The Bounce Back loan scheme is a welcome step toward getting cash to the smallest firms more quickly. The UK government and financial institutions should simplify and standardise the CBILS
BCC Coronavirus Business Impact Tracker: Loan schemes still slow to help many cash-strapped firms – but furlough scheme preventing redundancies
Results from the latest BCC Coronavirus Business Impact Tracker reveal the majority of businesses surveyed ahead of changes to the scheme announced on 27th April did not intend to seek financial support through CBILS bank loans and most of those who had applied were awaiting a decision or had been unsuccessful. While the appetite for loan support is highest amongst firms with the most urgent cash flow problems, many of these firms did not intend to access CBILS due to concerns they could not repay the
BCC responds to measures to prevent aggressive rent collection and closures
Commenting on temporary measures announced by Business Secretary Alok Sharma on 23 April to safeguard businesses against aggressive debt recovery actions during the coronavirus pandemic, BCC Head of People Policy Jane Gratton said: At a time when cashflow is a significant concern for so many firms, more time and flexibility to pay will provide welcome relief for employers who are struggling to reach agreement with landlords over rent holidays or rent deferment. Many businesses are still urgently trying to
BCC responds to announcement of the Bounce Back loans scheme
Commenting on the Chancellor’s announcement of the Bounce Back loans scheme for micro businesses, BCC Director General Adam Marshall said: The Chancellor has demonstrated he is listening to the concerns of our business communities and taking steps to get cash to the front line where it is needed. This new route for our smallest companies to apply quickly and get a fast decision will be crucial to those who have struggled to get a CBILS loan.
BCC responds to ESFA’s post-16 provider relief scheme
Commenting on the Education & Skills Funding Agency’s announcement of a post-16 provider relief scheme which will seek to continue education and training during the coronavirus pandemic, BCC Head of People Policy Jane Gratton said:This much needed fund will help to ensure SMEs and their apprentices can continue to access training throughout the pandemic and into the recovery period.To ensure businesses have the skills they need for the future, it is vital that apprentices are supported to complete their
BCC responds to UK Finance’s update on Coronavirus Business Interruption Loan Scheme applications
Commenting on the latest UK Finance update on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said: The increase in companies accessing CBILS is encouraging progress. However, the number of applications processed and approved will need to be increased significantly in what is a crunch week for firms urgently trying to access financial support. Our Coronavirus Business Impact Tracker tells us that a concerningly high number of businesses are still finding
Shop 4 Plymouth: New online marketplace links you with local retailers
Shop local, support independent retailers and buy everything you need – from food and drink to gifts from the safety of your home. A new online marketplace is making it easy to do just that. Shop 4 Plymouth showcases local traders that are open and following Government guidelines or which have adapted to offer a delivery service instead. The initiative has been set up by the Plymouth City Centre Company and Plymouth City Council, with support from Plymouth Waterfront Partnership, in response to the
More than 70 per cent of firms surveyed have furloughed staff as scheme goes live
Results from the latest British Chambers of Commerce Coronavirus Business Impact Tracker reveal that the vast majority of businesses surveyed have furloughed a proportion of their workforce, and are awaiting funds from the Coronavirus Job Retention Scheme as payday approaches for many. •71 per cent of survey respondents have furloughed staff, up from 66 per cent last week •Cash flow remains a significant concern for many businesses - 6 in 10 have less than three months’ cash in reserve The leading
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BCC Coronavirus Business Impact Tracker: More than 70 per cent of firms surveyed have furloughed staff as scheme goes live
Results from the latest BCC Coronavirus Business Impact Tracker reveal that the vast majority of businesses surveyed have furloughed a proportion of their workforce, and are awaiting funds from the Coronavirus Job Retention Scheme as payday approaches for many. 71 per cent of survey respondents have furloughed staff, up from 66 per cent last week Cash flow remains a significant concern for many businesses - 6 in 10 have less than three months’ cash in reserve The leading business organisation’s weekly
BCC responds to opening of Job Retention Scheme online application portal
Commenting on news that applications are now open for the government’s Coronavirus Job Retention Scheme, BCC Director General Adam Marshall said: The opening of the Job Retention scheme is an important milestone for businesses, who can now begin to access the cash they need to pay their staff and protect livelihoods. “The government deserves credit for the speed, scale and flexibility of its response to the challenges facing our business communities. The focus should now be on delivering this support to
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BCC responds to extension of furlough scheme
Commenting on the Chancellor’s announcement today (17 April) that the Coronavirus Job Retention Scheme will be extended by one month until the end of June, BCC director general Adam Marshall said: “Businesses will be pleased that the Chancellor has responded to their calls for the Job Retention Scheme to be extended. This common sense move will provide many with the support they need to protect livelihoods as lockdown continues. “With applications for the scheme opening on Monday, and April’s payday
BCC Coronavirus Business Impact Tracker: Two-thirds of respondents awaiting funds from furlough scheme as payday approaches
Results from the third BCC Coronavirus Business Impact Tracker reveal that the majority of businesses responding to the survey have now furloughed a proportion of their workforce, and are awaiting funds from the government’s Job Retention Scheme to enable them to pay staff. 66% of survey respondents have furloughed staff in anticipation of scheme going live More than half of firms (59%) have three months cash in reserve or less 2 per cent of firms surveyed had successfully accessed CBILS and 15 per
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Call to plug the gap for support for small business
Plymouth’s leading business support organisations are joining forces with the Council to campaign for small businesses that have missed out on vital Government support. A letter is being sent today to the chair of the Local Government Association, Councillor James Jamieson asking for help to ‘plug the gaps’ for support for small businesses. In Plymouth around 400 businesses - employing over 3,000 people - are still without a financial lifeline because they don’t fit the criteria for one of the grant
Businesses not yet successfully accessing government loan and grant schemes
Results from the second BCC Coronavirus Business Impact Tracker reveal that most businesses have not yet successfully accessed the government’s Coronavirus Business Interruption Loan Scheme (CBILS) and the grants for small businesses. Just 1 per cent of firms had successfully accessed CBILS and 7 per cent are receiving grants57 per cent of firms have three months cash in reserve or less, 6 per cent of respondents have already run out of cash37 per cent of respondents said they were planning to furlough
BCC Coronavirus Business Impact Tracker: Businesses not yet successfully accessing government loan a
Results from the second BCC Coronavirus Business Impact Tracker reveal that most businesses have not yet successfully accessed the government’s Coronavirus Business Interruption Loan Scheme (CBILS) and the grants for small businesses. Just 1 per cent of firms had successfully accessed CBILS and 7 per cent are receiving grants57 per cent of firms have three months cash in reserve or less, 6 per cent of respondents have already run out of cash37 per cent of respondents said they were planning to furlough
BCC Responds to Boost for Coronavirus Business Support Schemes
Welcoming Chancellor Rishi Sunak’s announcement on measures to boost financial support for businesses affected by Coronavirus, BCC Director General Adam Marshall said: “We’re pleased that the Chancellor is listening and responding to the real-world concerns of firms across the UK who are urgently trying to access financial support. “Improvements to the Coronavirus Business Interruption Loan scheme will help firms get access to cash more quickly, and the announcement of a new loan scheme for mid-sized
COVID-19: New Break in Learning Flexibility
The Education and Skills Funding Agency have published a video that shows employers how to use pause & stop in the apprenticeship service to record a break in learning. This video takes employers through the new measures relating to breaks in learning that were recently detailed in the apprenticeship programme response to COVID-19 document. We also describe why they might want to pause or stop an apprentice record in the apprenticeship service, and how to do it. They also explain the steps that
BCC Responds to Changes to Insolvency Law
Commenting on Business Secretary Alok Sharma’s announcement on the relaxation of the insolvency rules, BCC Head of Economics Suren Thiru said: “Businesses will welcome the government’s sensible steps to amend insolvency laws to help protect companies weakened by the impact of coronavirus. “It is right that the rules on wrongful trading are temporarily suspended to ensure that directors are not penalised for doing all they can to save companies and jobs during this turbulent period. “Companies that
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BCC Comments on GDP and Trade Figures
Commenting on the GDP and trade statistics for November 2018, published by the ONS today, Mike Spicer, Director of Research and Economics at the British Chambers of Commerce (BCC), said: “Despite a small improvement in GDP growth between October and November, the underlying three-month measure showed an economy that was slowing after what had been a stronger performance in the previous quarter. This is reinforced by the results of our own Quarterly Economic Survey, which found that the UK economy was
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The Heart of the South Local Enterprise Partnership is currently consulting on its document entitled ‘Stepping up to the Challenge.’ This is a draft Productivity Strategy for the counties of Devon and Somerset. Our area compares unfavourably with most in the county in terms of the volume of the work achieved, per hour, spend on innovation, number of companies which export and overall how competitive our economy is. The strategy aims to double the size of the local economy by 2030 and improve our relative
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