ACCA and #ForgottenLtd urge government to free unspent grants to save 7.5m jobs in businesses unable to access support
ACCA and #ForgottenLtd are throwing their support behind the Institute of Directors and Federation of Small Business’s call for the government to release the approximate £1.6bn of unspent coronavirus grants to those that have slipped through support cracks.
Both organisations believe that at this critical time, as the cost of support schemes starts to pass to employers, a cash injection will enable many companies to survive, continuing to employ staff, generate taxes and 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 7.5m jobs.
Claire Bennison, head of ACCA UK, said: ‘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.’
#ForgottenLtd’s Gina Broadhurst said: ‘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.’