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.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.