She failed to win the Olympics, didn’t go to college – but became CEO of a large global company
Demand for government-backed loans from UK businesses will increase as funds continue to run out and cash flow dries up, according to new research.
According to UK corporate finance lender Market Finance, businesses across the country now have only 3. 150 GBP (4th. $ 192) of their bounce-back loan (out of a total of 50. 000 GBP). . It is estimated that this amount will reach businesses by the end of this week.
The findings also showed that around 84% of companies will apply for larger loans for the Coronavirus Business Interruption Loan Scheme (CBILS). Only 27% of the small businesses surveyed say they are certain they can survive until 2021. This was based on their current cash balance and expected sales to decline over the winter months.
Others have admitted they received an injection of 50. Will need £ 000 to get through by the end of the year.
The research results are based on a survey among 5. 000 UK companies that employ employers with a minimum turnover of 250. 000 GBP, which was carried out in November 2020 (after the second lock was announced). .
Since the new lockdown was announced, 84% of companies said they were applying for CBILS loans. They said this was used to protect them from prolonged lockdowns and pending further bills, taxes, or duties to be paid.
Additionally, more companies know that they can refinance their bounce-back loan with a CBILS loan – from 68% two months ago to 83% today.
Anil Stocker, MarketFinance’s chief executive officer, said: « The stop-start government bans announcements have not helped UK businesses. However, they continue to struggle and of course they will need more money to support them during a difficult winter period.
“With a view to the future, it will ultimately be the private sector that will enable the Chancellor to regain control of the country’s finances. Hence, business leaders will look for growth-enhancing and business-friendly stimulus measures in the period ahead. ”
The research also found that a fifth of small businesses are now waiting more than three months to pay, MarketFinance said, and 27. £ 000 pending work done prior to initial lockdown.
Two in five companies (42%) are still waiting to get paid for the work that has been completed since the initial lockdown. In June 2020 they waited an average of 148. 917 pounds sterling, as of September 33. The equivalent of 906 pounds sterling.
Companies in Wales and in the leisure, marketing and telecommunications sectors were hardest hit in terms of longer waiting times.
Stocker added, “We are experiencing a cash vacuum in the economy. Companies wait longer to be paid and withhold payments. They are in dire need of government funding and support. A well-oiled engine will keep the economy going and keep small businesses alive. ”
Last week, Chancellor Rishi Sunak described the beginning of the UK’s economic emergency in the Spending Review to the Commons.
He said the Office of Budgetary Responsibility (OBR) didn’t expect the economy to return to pre-crisis levels by the end of 2022 and the damage likely to continue.
An estimated 1. According to the Chancellor at the time, 3 million public sector employees will freeze their wages between 2021 and 2022 as unemployment is expected to reach 7. 5% next spring, with 2. 6 million people are unemployed.
The news that former Vice President Joe Biden would become the next President of the United States was received in Russia with a grim resignation that bordered on desperation. Russian state television experts have called Biden’s presidency « Obama’s third term » and predicted a series of new sanctions feared by the Kremlin. This expectation revived the wave of racist attacks against the former U. . S.. . President Barack Obama who were commonplace during his tenure. Open racism in the Russian state media is anything but unusual, but it is still shocking. Tigran Keosayan – the husband of Margarita Simonyan, editor-in-chief of Kremlin-funded RT and Sputnik – brought racial ridicule to new lows in his Mezhdunarodnaya Pilorama (« International Sawmill ») program, first reported by the Moscow Times. Keosayan described Barack Obama as « the dark side of American history » while introducing a highly insulting sketch in black of an actress who embodied the former U.. S.. . president. The alleged portrayal of Barack Obama was crude and crude. The actress in bandana gestured as a rapper and described the former president of America as a « chocolate bunny ». The program, which aired on NTV, a national gas company-funded station, mocked « Black Lives Matter » and claimed none of Barack Obama’s relatives could write. The sketch ended with the recommendation that instead of reading Barack Obama’s book « The Audacity of Hope », viewers should « read the label on the bathroom air freshener ». Heralded as one of the most influential women in the news media, Margarita Simonyan was convicted worldwide for the most recent racist episode and tried to back down using her husband’s Armenian ethnicity as a kind of excuse for his unjustifiable racism. Describing the offensive sketch as a « parody of Obama », she insincerely claimed, « As someone who is part of an ethnic minority in Russia, Tigran regularly pokes fun in the air at his big » ethnic « nose and belonging to a » black » « Community (take a look if you don’t know which ethnic groups are called » black « in Russia). « Despite Simonyan’s awkward excuses, her husband isn’t the only one who feels somehow entitled to ridicule African Americans. In June of that year, RT’s editor-in-chief published a despicable racist article in Russian tabloid Komsomolskaya Pravda, referring to « muscular criminal negroes » amphetamines and encouraging violence and death. Russian state media have long expressed their desire for unrest in the United States. The article’s author, Dmitry Steshin, urged, “Beat the whites until they turn black. Simonyan shared the article, describing it as good advice from an international journalist to the negroes of Minnesota and the United States. « Simonyan’s husband followed the obscene sketch on his program with a ridiculous claim: » There is no racism in Russia. « It was no more believable than the infamous Soviet claim: » There is no sex in the USSR. Read more at The Daily Beast. Get our top stories in your inbox every day. Sign up now! Daily Beast Membership: Beast Inside delves deeper into the stories that matter to you. Learn more.
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Finance, Finance, Government Backed Loan, Accounting, Winter, Market Finance, Government
LevelMagazine – CA – Applications for Government Funded Loans in the UK are set to rise