The government backed loan scheme, CBILS, is ending for applications on 30th September, which, as I write this article, is 19 working days away. If your client needs to apply, now is the time to do it, to ensure the banks and lenders have all the information they need to confirm a full application by the deadline.
Sharp distinctions in approaches to managing cashflow and business continuity planning by SMEs and the corporate world are revealed in the latest edition of the ACCA UK and The Corporate Finance Network (The CFN) SME Recovery Tracker.
Closing on the 29 July, the results show that 86% of accountants in the corporate sector have business plans and financial forecasts in place,
“Counting the human cost of Covid — and of leaving small business owners behind” was the headline for the article on 23rd July, an opinion piece by Helen Brand, Chief Executive Officer of ACCA, who are backing the industry-wide campaign across the accountancy profession to #LeaveNoBusinessBehind
Referencing the mental health concerns accountants have for some of their business owner clients,
Today we launch the #LeaveNoBusinessBehind campaign to provide additional support to the wider accounting profession as we urge them to commit to encourage all business owners to prepare cashflow forecasts, so that they have a roadmap to lead them out of lockdown and into recovery.
We are concerned that with so many deferred and debt repayments becoming due over the next 12 months,
Emerging from the Covid-19 lockdown has not alleviated concerns about the future viability of small and medium sized businesses (SMEs), or eased the stresses they are under, reveals the latest ACCA UK and The Corporate Finance Network (The CFN) SME Recovery Tracker.
The survey features insights from accountants representing more than 15,530 SME clients,
Small businesses and industry leaders united in call for more action
ACCA (the Association of Chartered Certified Accountants) has joined with champions of small business to call for more help for the troubled sector in the wake of Covid-19.
The call came in a roundtable discussion hosted by ACCA with the Forgotten Ltd campaign,
More than 1 in 10 businesses have revealed it is impossible or unviable to open up ahead of the UK lockdown being lifted on July 4th.
More SMEs have reported greater levels of stress and anxiety due to Covid-19, finds the latest results from the ACCA UK and The Corporate Finance Network (The CFN) SME Recovery Tracker: Featuring insights from accountants working with the small business community.
More SMEs are changing their credit terms with their suppliers due to Covid-19, finds the latest results from the ACCA UK and The Corporate Finance Network (The CFN) SME Health Tracker.
The survey of accountants, representing nearly 19,000 SME clients, also shows that the current business environment of opening up is slowly easing the intense strain on anxious SMEs –
Small to medium sized businesses (SMEs) will struggle to trade if social distancing measures continue, finds the latest results from the ACCA UK and The Corporate Finance Network (The CFN) SME Health Tracker.
Accessing a survey pool of accountants representing nearly 9,000 SMEs across the UK, the findings show that on average 16% of SMEs said they think social distancing will make it impossible or unviable to reopen their business – equaling around 1,500 SMEs represented across this research pool.
As UK businesses cautiously return to trading, a review of the last eight weeks of the ACCA UK and Corporate Finance Network (CFN) SME Health Tracker reveals that the lockdown has had a marked impact on SMEs’ financial outlook.
Since early April, the Tracker has gauged SMEs’ financial health when the lockdown officially began on the 23 March 2020.
