2020 Member: Included with 2020 Membership
Non member £0.00 + VAT
This webinar has been planned and delivered in conjunction with one or more of our valued third-party partners. All such webinars are subject to our quality control procedures to ensure relevant learning objectives are set and met, alongside any product demonstration. A member of the 20:20 Innovation team will be joining the presentation, ensuring a lively and relevant dialogue.
To refresh participants on what financial assistance was available to small businesses during 2020, how the legacy debt is causing issues three years later, and what options directors have to deal with it.
In the Spring of 2020, the majority of businesses in the UK were told that they had to cease trading, as part of a lockdown procedure – most needed financial assistance during this period, which was provided through various mediums (e.g. grants / loans / furlough)
Although the funds provided assistance at the time, many small businesses are now struggling to meet the repayments on the legacy loan debt – in some instances, this has been exasperated by companies also seeing a material drop in turnover, as a result of the “cost of living crisis” brought about by high inflation and increased interest rates.
In this seminar, we’ll remind ourselves of what financial assistance was provided to businesses (back in 2020) with a particular focus on the 1.5 million Bounce Back Loans provided to small, limited companies.
We’ll then look at how (three years later) these borrowings are causing issues for small businesses, and what other factors (e.g. high inflation) are having an impact on companies in different sectors.
Finally, we will look at what tools Insolvency Practitioners have to assist directors and their businesses, by providing options and solutions to the problems being experienced.
Accountants and other professional advisors, who have a portfolio of clients that include owner-managed businesses (irrespective of the sectors involved).