On 5th May, The Corporate Finance Network researched its accountancy members to ascertain their latest experiences of attempting to secure a Coronavirus Business Interruption Loan (CBILS) for their SME clients. Despite the much-heralded launch and apparent success of its younger sibling, the Bounce Back Loan on 4th May, CBILS still plays an important role in the rescue and recovery of more sizeable SMEs,
Kirsty McGregor is regularly featured in the national press and her opinion is sought in relation to issues for SMEs concerning funding, growing and selling a business. She has contributed to the following recent articles:
The Telegraph have seen the Open Letter to HMRC and realised that this probably explains why HMRC’s published statistics of completed furlough grant claims are so low.
Our weekly “SME Health Tracker” taking the views of accountants, which is now also delivered by ACCA UK, is regularly covered by national and international media and bloggers.
Leading regional publications, including the Yorkshire Post, known as “the nation’s local newspaper” have been covering The CFN’s alternative and additional proposals to The Treasury. Comments have since been received directly by several businesses who support our ideas.
On 31st March we worked with Andy Verity, Economics Correspondent for the BBC, on the story that the CBILS loan scheme wasn’t working and we shared our research that 18% of businesses (800,000) were probably, or definitely, going to run out of cash in the next few weeks. Andy first discussed the story on Tuesday 1st April in the morning on the Radio 4 Today Programme,
18% Of All SMEs Are Set To Collapse Within The Next 4 Weeks, Unless The Government Steps In – A Team Of Leading Industry Professionals Are Ready To Launch Such A Rescue Plan
The Corporate Finance Network, representing some of the UK’s most proactive and commercially astute regional, independent accountancy firms, has undertaken research amongst 13,000 SME’s which predicts that in the next 4 weeks, as a result of the COVID-19 lockdown, 18% of all SMEs will not be able to survive, despite the support measures currently announced by the Government.
Kirsty McGregor was interviewed by regional ITV News on Wed 18th March. Unfortunately the programme was busy that only a snippet was able to be used. Similar advice will be given by Kirsty on a webinar on Monday 23rd March at 1.30pm with Capitalise.com Register here and if you can’t watch the live webinar,
‘Big 4’ accountancy firm, KPMG, has recently axed its service for SMEs. James Hurley, Enterprise Editor at The Times, asked our chairman for her view on this
The full article in The Times can be viewed here: https://www.thetimes.co.uk/article/can-you-count-on-help-from-big-hitters-vdkx056ct
Kirsty McGregor, Founder and Chairman of The Corporate Finance Network,