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.
- Over a million in UK with multiple jobs are without basic dignity protections
Current frameworks designed to ensure fair conditions and dignity for workers are not equipped to deal with the modern realities of multiple employment, says new research A new research publication from Durham University Business School has revealed that the rise of multiple employment is leaving a high proportion of the UK workforce without basic care… Read more: Over a million in UK with multiple jobs are without basic dignity protections - Surviving the AI shift: Why storytelling is your human advantage
In an age of algorithms and automation, the ability to tell stories that inspire action remains a uniquely human and core strategic skill, writes leadership expert Zoë Arden Artificial Intelligence is no longer a distant sci fi concept – it’s a transformative force reshaping industries, redefining roles and rewriting the rules of competition. From predictive… Read more: Surviving the AI shift: Why storytelling is your human advantage - Charging creators more can help platforms curb digital piracy
Increasing commissions can incentivise platforms to invest more in anti-piracy measures, though it may strain relationships with content creators, according to research from NEOMA Business School and Temple University Illegal download sites are continuing to attract vast numbers of users worldwide. But research from Prasenjit Mandal (NEOMA) and Abhishek Roy (Temple) shows that if online… Read more: Charging creators more can help platforms curb digital piracy - From six figures to career reinvention: The value of a new direction
The decision to leave a top job didn’t add up to many – but for Angela Cox, the returns would soon become crystal clear It’s our year end, and the business has grown again. Substantially. And instead of that familiar knot in my stomach about targets, performance conversations, and what the next financial year is… Read more: From six figures to career reinvention: The value of a new direction - Cambridge Tech Week 2026: A deep dive into the potential of deep tech
From 14–18 September, Cambridge Tech Week 2026 is set to examine how regions around the world can work together to accelerate the commercialisation and global deployment of deep tech innovation Annual technology event Cambridge Tech Week brings together founders, investors, academics, corporates and policymakers to accelerate innovation and global collaboration. Returning from 14–18 September, this… Read more: Cambridge Tech Week 2026: A deep dive into the potential of deep tech