Cheltenham: 01242 260066 | Bristol: 0117 933 5710 | Email accountants@mitchells.org

Businesses 'vulnerable' as coronavirus schemes wind down, BCC suggests

20 Aug 2020

The latest Coronavirus Business Tracker from the British Chambers of Commerce (BCC) has suggested that UK businesses are vulnerable as government support schemes begin to wind down.

According to the BCC, firms are still reporting high levels of reliance on government coronavirus (COVID-19) support schemes to 'help stem cashflow issues'.

38% of businesses stated that they have three months or less worth of cash in reserve. However, 38% of firms reported improved revenue from UK clients, a rise from the previous tracker's figure of 34%.

The BCC said that, with government support schemes set to wind down in the coming weeks, it 'remains unclear' what further support, if any, firms will receive.

'While some firms are seeing improvements in trading conditions, we are still very much in the eye of the storm, with further turbulence ahead,' said Adam Marshall, Director General of the BCC.

'As the government's emergency measures begin to wind down over the coming weeks, and with the prospect of further local lockdowns still very real, businesses across the UK are going to need further support to weather uncertainty over the coming months.'

Try a site search Tax returns, budget, pension, rates and allowances...

Contact details

Cheltenham Office: 01242 260066
Bristol Office: 0117 933 5710

Company Registration No: 4161638
Company Registered in England and Wales.
Company details
Mitchell Glanville Limited
Registered Address: 41 Rodney Road, Cheltenham, Gloucestershire GL50 1HX

Bristol Office: The Garden Suite, 23 Westfield Park, Redland, Bristol BS6 6LT
Mitchell Glanville Limited regulated by the Institute of Chartered Accountants in England and Wales
Mitchell Glanville (Bristol) Limited regulated by the Association of Chartered Certified Accountants

© 2020 Mitchells Chartered Accountants. All rights reserved. We use cookies on this website, you can find more information about cookies here.