empty
 
 

2020.04.0211:01:00UTC+00Majority Of UK Firms Face Cash Flow Crisis: BCC

The majority of UK firms have three months' cash in reserve or less, according to a survey conducted by the British Chambers of Commerce, released Thursday.

The new Coronavirus Business Impact Tracker painted a concerning picture for business communities affected by pandemic.

About 18 percent reported less than a month's worth of cash in reserve, while 44 percent reported only 1 to 3 months' worth of cash in reserve.

Further, around 32 percent of respondents said that they were planning to furlough between 75 to 100 percent of their workforce over the next week.

Consequently, more than a quarter of firms are set to use the government scheme that promise to pay 80 of employee's salary up to GBP 2,500 a month.

Firms also reported a sharp and significant decline in domestic and overseas revenues. The survey was conducted between March 25 and 27 covering 600 businesses.

BCC Director General Adam Marshall, said "The Coronavirus pandemic has taken a heavy toll on business and economic activity across the UK."

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback