Supporting Our Local Businesses Through COVID-19

COVID-19 is a global health emergency that requires an unprecedented response both here and across the world. Governments and health professionals need the right medical resources to continue to be diverted to the right places as soon as possible.

In the East of England our NHS and wider public sector workers are already working night and day to try and protect us from the worst of this pandemic and we are immensely grateful for their support.

From a business perspective, we were very pleased to see a huge stimulus package announced by the Government last night in response to the economic impact of the virus.

This promised support in many ways but perhaps the most important for our local businesses was the provision of Government backed loans of up to £5m per business being made available from as early as next week.

Like the rest of the UK and world economy, our region needs support and it needs it fast and utilising these loans rapidly is going to be critical for many businesses to survive.

The full details of how to access these funds are yet to emerge but we would encourage business owners in need of support to speak to their existing bank manager as soon as possible.

Similarly, whilst travel and face to face meetings may be difficult at present, we have a team of experienced professionals willing to offer advice and support to businesses across our region and we would be happy to offer some free advice and guidance over the phone for anyone who has concerns about their business. Please do not hesitate to contact us.

In addition, the JDC team is completely set-up for remote working and this means that for more complex matters such as support with financial modelling, preparation of detailed cash forecasts or accelerated disposals, we are fully equipped to provide assistance.

We are already working with some of our clients to implement contingency plans, cash management and cost cutting measures to help manage through the crisis in a sustainable way.

Like everyone we hope this passes quickly and that the health and economic impacts can be minimised as much as possible.