BCC finds significant number of UK businesses have furloughed employees

A survey conducted by the British Chambers of Commerce (BCC) has found that over 70% of responding businesses have furloughed a proportion of their workforce.

Call 01922 628437 or email info@siaandco.co.uk

A survey conducted by the British Chambers of Commerce (BCC) has found that over 70% of responding businesses have furloughed a proportion of their workforce.

Data from the BCC's latest Coronavirus Business Impact Tracker revealed that 71% of firms have furloughed their employees, up from last week's figure of 66%. 30% of businesses have furloughed between 75% and 100% of their workforce, whilst 28% haven't furloughed any employees.

The Tracker also found that firms are awaiting funds from the government's Coronavirus Job Retention Scheme. It suggested that cashflow remains 'a significant concern for many businesses', with six in ten having less than three months' cash in reserve.

Commenting on the findings, Dr Adam Marshall, Director General of the BCC, said: 'Our research suggests that over 70% of businesses will be using the furlough scheme in some form, so it's absolutely crucial that it delivers.

'HMRC's capacity to deal with the demand from business has been encouraging so far. It is now critical that payments from the furlough scheme reach businesses as smoothly and as quickly as possible in order to protect jobs and livelihoods.'

For more information about S I Ahmed & Co. Certified Public Accountants, Chartered Payroll Professionals, Tax and Business Advisors, please contact us.

AIA - The Assoication of international accountants AAT - The Association of Accounting Technicians CPAA - Certified Public Accounants Assoication CIPP - The chartered institute of payroll professionals intuit - Certified ProAdvisor Quickbooks - Certified ProAdvisor
About our team

Established since 1999, S I Ahmed & Co is a friendly, pro-active and growing firm of Accountants based in Walsall, providing a comprehensive range of accountancy, book-keeping, payroll, auditing and taxation services at competitive rates throughout the region.

Learn more

Latest news
Contact Details

Please call:
01922 628437

S I Ahmed & Co, 238 Wednesbury Road, Walsall, West Midlands WS2 9QN

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy Policy | Help |

© 2020 S I Ahmed & Co. All rights reserved. powered by totalSOLUTION
Registered Office: 238 Wednesbury Road, Walsall, West Midlands WS2 9QN

We use cookies on this website, you can find more information about cookies here.