Firms in the South West are among the most pessimistic in the UK about the impact of the coronavirus pandemic, with many expecting to shed jobs when the government’s furlough scheme ends, according to a new survey. The Lloyds Bank Business Barometer, which takes the pulse of 1,200 firms across England every month, shows...
Business West, the region’s largest business organisation, has welcomed the launch today of the government’s Kickstart scheme, which offers subsidised job placements to out-of-work young people. Under the £2bn programme, 16 to 24 year olds claiming Universal Credit and at risk of long-term unemployment, will be able to gain six-month work placements. The government...
The coronavirus pandemic has hit profits at more than 60% of firms in the West of England – with nearly one-in-seven fearing they will never return to pre-Covid levels of activity, according to the largest business survey in the region. Just under a quarter of firms have, or plan to, axe jobs with a...
A steep rise in corporate insolvencies linked to the coronavirus pandemic is being predicted for this winter – and could start as early as October. New research from insolvency and restructuring trade body R3 indicates that lack of funds to pay their rent is likely to be the biggest cause of firms getting into...
Regional alternative finance lender South West Investment Group (SWIG) has made two appointments to its growing team while also saying farewell to Brian Steer, one of its longest-standing employees, who has retired. Nicki Kimberley has joined as start-up loans officer, a role that involves supporting applicants to the Start Up Loans scheme and helping...
The coronavirus pandemic has pushed up the number of profit warnings issued by South West listed businesses to a 20-year high, with those in the travel and leisure sector hardest hit. According to new figures from accountancy group EY, profit warnings soared by 73% year-on-year in the first half of 2020 to 26 – with 85%...
Government figures showing another monthly fall in corporate insolvencies are hiding the true picture of the damaging effect of the coronavirus pandemic on businesses, according to the South West branch of insolvency and restructuring trade body R3. Insolvency Service statistics for June show 732 company insolvencies in England and Wales, lower than May’s figure...
The CBI said Chancellor Rishi Sunak was “absolutely right” to prioritise jobs in his summer statement this afternoon. Director-general Dame Carolyn Fairbairn, pictured, said: “Flattening the daunting unemployment curve about to hit our country could not be more important. Joblessness scars lives and hits the young and most disadvantaged hardest. “Today’s jobs plan is an...
Measures to address the huge economic impact of the coronavirus pandemic announced this afternoon by Chancellor Rishi Sunak have been welcomed by Business West, the region’s largest business group. Matt Griffith, director of policy at Business West – which runs the Swindon & Wiltshire Initiative – described them as impressive but also added that...
Chancellor Rishi Sunak is making his economic statement in the Commons. He said the government would do “all we can” to help prevent job losses in the wake of the coronavirus pandemic. The main points were: Government will pay £1,000 to businesses for each furloughed employee they bring back and retain until January. Cut in...
