Rishi Sunak has announced further support for people and businesses impacted by local lockdowns. Speaking to the House of Commons today, the Chancellor said he would help “open but struggling businesses” operating in areas under tier 1 and 2 coronavirus restrictions, and pledged to increase the government’s financial support to employers forced to close in tier 3 areas.
He extended the Jobs Support Scheme to include businesses which can open but have witnessed a fall in demand, by lowering the required hours employees have to work to qualify for the support down from 33 per cent of normal hours to 20 per cent. He also revealed a dramatic cut in the level of employer contributions under the scheme. Businesses are now expected to cover just 5 per cent of employee hours not worked, rather than the 33 per cent initially announced last month. The support scheme will apply to eligible businesses in all tier levels.
Luke Davis, CEO and Founder of SME investment specialists, IW Capital, has commented on the announcement:
“This package announced today could be the lifeline that many small businesses have been calling out for, helping them keep on staff and keep operating during the new restrictions. Businesses have been incredibly resilient and small business owners, in particular, should be praised for the work they have done over the course of the year.
Small businesses represent 99% of the UK economy and employ over 60% of the working population, so this support is crucial to the continued success and the overall health of the UK economy. For those that are not only looking to stay afloat but grow, private investment into SMEs remains strong, at IW Capital, have seen a marked increase in the amount invested into high-growth SMEs during the Coronavirus pandemic.”
For more information visit iwcapital.co.uk
For more Leadership & Business news follow i-invest Online.
- Solve the AI sustainability conundrum and maximise operational efficiency
From streamlining ESG processes, to consuming vast amounts of energy, AI provides both opportunities and threats to the sustainability of industry. Julia Binder and José Parra Moyano of IMD unpack the issues Artificial intelligence is both a game-changer and a potential liability for business sustainability. On one hand, it offers transformative opportunities, optimising energy use,… Read more: Solve the AI sustainability conundrum and maximise operational efficiency - Harness a new world of opportunity powered by Tech for Good
Those who embrace innovation today will shape the markets of tomorrow, building a future where efficiency, transparency, and purpose go hand in hand, says thought-leader Marga Hoek A new era of innovation is redefining sustainability, offering an unprecedented opportunity to tackle climate change, biodiversity loss, inequality, poverty, and global health challenges. As detailed in my… Read more: Harness a new world of opportunity powered by Tech for Good - Understand your stress cycle and make it your strategic ally
By understanding the biological, psychological, emotional and behavioural mechanics of your stress cycle, you can not only convert pressure into performance, but burnout to breakthrough, says wellness coach and author Josephine McGrail Stress happens to everyone. It is not a matter of if, but when and how. Embracing this fact will change everything – your… Read more: Understand your stress cycle and make it your strategic ally - Economics needs a radical reset to become truly sustainable
Sustainability must no longer be seen as a brake on the economy, but as the foundation for a new form of economic progress, a recent paper argues Sustainability must form the core of economic theory and policy, rather than being an afterthought in order to have any chance of making a positive impact, according to… Read more: Economics needs a radical reset to become truly sustainable - Why Apple’s new TLS policy is a wake-up call for IoT security
Apple’s announcement should focus minds on the critical importance of future-facing and agile automated device security, says Darron Antill, CEO at Device Authority The decision by Apple to slash the lifespan of public transport layer security (TLS) certificates from 398 days to just 47 is destined to have a significant impact on digital identity management… Read more: Why Apple’s new TLS policy is a wake-up call for IoT security