The UK has entered a new phase of lockdown. The government’s new ‘three-tier’ approach means that each area of England will falls into one of three categories. Here’s all you need to know.
Just over a quarter (27%) of business owners have cut their spending due to the coronavirus pandemic, according to a new social media survey. But the study from the Personal Finance Society also found that more than a third (40%) of businesses haven’t adapted or changed their financial plans at all.
Where does your business stand?
The government has today announced that it will be extending the application dates on the financial support packages for businesses affected by coronavirus. It has also announced that the furlough scheme won’t be extended in its current guise, but will be replaced by a similar scheme.
It doesn’t seem like the first coronavirus wave has ended and already there’s talk of preparing for the second wave. But with the cold weather on its way back, government support schemes coming to an end, it’s going to be a tough end to the year, regardless of whether or not there is a second wave of Covid-19.
UK businesses are still feeling the effects of the first coronavirus outbreak and lockdown – many still haven’t had the chance to reopen – and are now being asked to prepare for the second wave. If you’re in the payments industry, here are some ways to stay competitive if there is another downturn.
The rumors of the second COVID-19 wave have been circling the market. With a significant number of vendors still battling the consequences of the first siege of the pandemic, keeping in mind what measures could mitigate the impact could be the difference between a ‘crash and burn’ and staying afloat.