18 Mar 2020 -
 General

New Bulletin – Dept for Business, Energy, Industrial Strategy

More information coming out of the DBEIS in their Coronavirus (COVID-19) Business Readiness Bulletin.

Here’s the roundup:

• Foreign & Commonwealth Office (FCO) now advises against all non-essential travel worldwide.

• Work from home, where possible.

• Avoid large gatherings; non-essential use of public transport.

• Everyone should follow these measures as much as is pragmatic.

Pay up promptly

The Small Business Minister and Small Business Commissioner are calling on the UK’s big businesses to speed up payments to their small business suppliers wherever they can to ease COVID-19 related cash flow issues.

Interim Small Business Commissioner, Philip King said: “For small businesses, cashflow is the difference between survival and failure. Coronavirus has put unprecedented pressure on the UK’s SMEs. When the cash runs out, businesses collapse. While the banks and the Budget have set out important action and relief, the reality for small firms is that short term cash flow is still the most important thing.

“We want to urge all businesses to accelerate payments to small suppliers wherever they can. If the invoice is approved and ready for a future payment run, pay it now – rather than wait – and get money into the supplier’s account.”

You can find more information here.

Astute Electronics – Bringing you Safe Supply with the latest insights from trusted sources.

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