• Register
Return to: Home > Comments > New Covid 19 restrictions in August may impact business

New Covid 19 restrictions in August may impact business

Andrew Harding, FCMA, CGMA, Chief Executive, Management Accounting, The Chartered Institute of Management Accountants comments:

“As parts of the country are now experiencing new restrictions to manage local outbreaks and some businesses have been prevented from opening to help stop the spread of COVID-19, we must think about how such restrictions impact local businesses and how we can best support them to survive further disruption. This is particularly important as many good businesses are still grappling with the aftermath of the country-wide lockdown and risk going under, without government support, if we prevent them from operating once again.

Many of the businesses affected are SMEs, which had already put in a huge effort to reopen – making arrangements for employees to return, deep cleaning, and making their premises COVID-secure to name a few – but have suddenly been stopped in their tracks. Therefore it is only right that where official policy and guidelines prevent a business from operating, the government continues to support that business while it remains closed.

 

The government must now lay the groundwork and devise an adequate plan to ensure that it can efficiently deliver much-needed financial support to already struggling local businesses. It should look to extend its support schemes such as the Job Retention Scheme, CBILS and Bounce Back Loans in regions and sectors forced to close again or to operate with significant restrictions. We cannot expect struggling businesses and employees to accept and survive further lockdowns or restrictions, unless financial support is brought alongside to help them navigate challenges lying ahead.

We need to reduce uncertainty to build confidence for businesses so that they can keep supporting local economies and communities throughout this crisis and beyond.”

 

 

  

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more

    CORONAVIRUS TIMELINE: REACTIONS FROM THE ACCOUNTANCY PROFESSION

    As the Coronavirus (COVID-19) continues to spread across the world, the International Accounting Bulletin and The Accountant will be collating all the latest news and updates from the profession on the pandemic’s impact.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.