Results from the latest BCC Coronavirus Business Tracker reveal that business conditions improved only moderately in the weeks since the UK economy suffered an historic contraction in Q2 2020, with firms still reporting high levels of reliance on government support schemes to help stem cashflow issues.
Research from the British Chambers of Commerce, in partnership with Mobile UK, has underlined the importance of good quality mobile coverage to enable firms to restart and maintain operations successfully after the Covid-19 pandemic.
Results from the latest BCC Coronavirus Business Tracker reveal that businesses are still facing significant cashflow challenges with the schemes announced in the Summer Statement failing to provide support at the scale needed to protect jobs after the furlough scheme winds down.
Results from the BCC’s Quarterly Recruitment Outlook, in partnership with Totaljobs, reveal the impact Coronavirus has had on the jobs market, with the two organisations calling for further action from government to protect businesses and jobs.
29% of businesses expect to decrease the size of their workforce in the next three months
28% decreased size of workforce in Q2 but 66% kept their workforce constant, reinforcing the success of the Job Retention Scheme
The two organisations call for a cut in employer National Insurance Contributions to protect businesses and jobs.
UK economic growth in 2020 is forecast to slow to its weakest rate since the financial crisis as higher government spending struggles to offset falling business investment, weakening net trade and sluggish consumer spending.