Friday, 3 April 2020
Chamber responds to Chancellor’s latest COVID-19 business support measures
Commenting on the additional measures announced by Chancellor Rishi Sunak to strengthen the Government’s support for businesses affected by the coronavirus, Scott Knowles, Chief Executive of East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire), said: “The ongoing COVID-19 situation continues to unfold at a rapid pace, so it’s good to see the Chancellor keeping a close eye on developments and responding accordingly with further interventions.
“Improvements to the Coronavirus Business Interruption Loan scheme will help firms access cash more quickly, while the announcement of a new loan scheme for mid-sized companies will help close a significant gap in existing support.
“However, the measures announced by Government to date will make a difference only if businesses on the ground can access this support quickly and easily, and lenders play their part in making these funds more readily available to the businesses that need them.
“Hopefully, this enhanced support will have the desired effect in making it easier for businesses to access the funding they need to ease their cash flow, continue trading and preserve jobs in the longer term.”