ACCA and #ForgottenLtd are throwing their support behind the IOD and FSB’s call for the government to release the approximate £1.6bn of unspent coronavirus grants to direct the funds to those in need of support that have slipped through the cracks due to technicalities.
Both organisations believe that at this critical time, as the thought of the cost of support schemes start to pass over to the employers, a cash injection is exactly what many companies need to enable them to survive and to continue to employ staff, generate taxes, and to contribute to their local economy and community.
#ForgottenLtd, a campaign for small limited company directors affected by the coronavirus pandemic in the UK, believes this funding could help save up to 7.5 million jobs.
Claire Bennison, head of ACCA UK says: ‘This repurposing idea makes sound economic and business sense, and we congratulate the IOD and the FSB for approaching the UK government. ACCA members working with micro and small business clients have been telling us over recent months just how stressful the situation has been, compounded by the immediate liquidity crisis many are now facing. This proposal offers a clear message of support and a potentially timely lifeline for those most in need.’
Gina Broadhurst from #ForgottenLtd says: ‘The discretionary grant fund scheme represented an opportunity to provide the cash injection so many businesses have been crying out for. The reality is that it became a postcode lottery with home-based and mobile businesses on the whole ineligible. This cash represents crucial help that could save millions of jobs and prevent the closure of many small and micro businesses across the UK, by helping those who have so far received little to no Government assistance. The mental health implications of being left unsupported for so long have really taken their toll, and business owners across the country have been left to sink or swim - and in some cases they’re in desperate straits, with real hardship the new norm.’
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