UKinbound responds to COVID-19 Budget measures

CEO Joss Croft has commented, “Over the last few weeks, my association has been receiving increasing numbers of calls from members desperately worried about their businesses, which have been severely impacted by COVID-19.

“Specifically, some of our members have told us that their only option now to ensure the viability of their businesses, is financial support from the Government.  At first glance, the chancellor’s Budget will come as a relief for many tourism and hospitality businesses, with its package of measures and support to mitigate the impact of the virus.

“We particularly welcome the business interruption loan scheme and deferment of tax payments. Business rate relief for small businesses with a rateable value under £51k and a review of business rates are also to be welcomed.

“However, the Government needs to recognise that businesses that do not qualify for this support will also suffer, as this rate relief does not go far enough.

“Speed is of the essence here in making this support accessible to the industry, as some businesses may only have a few weeks left to survive.”