Cavalry

An independent firm of Insolvency Practitioners specialising in business rescue and turnaround.

[Cavalry @CavalryGlobal]

CVR Global LLP is pleased to announce that Begbies Traynor Group plc has acquired our restructuring, insolvency, advisory and forensic services firm and will now trade under the Begbies Traynor and BTG Advisory trading names. For more information - https://t.co/X6UIUdRz44

[Cavalry @CavalryGlobal]

3/3 - FSB national chairman Mike Cherry said the UK risked “losing hundreds of thousands of great, ultimately viable small businesses this year, at huge cost to local communities and individual livelihoods”.

#smes #smesupport #smallbusinessowners

[Cavalry @CavalryGlobal]

1/3 - According to research conducted by the Federation of Small Businesses, more than 250,000 businesses are currently at risk of closure without further help from the government (cont...)

#COVID19 #Covid19UK

[Cavalry @CavalryGlobal]

2/3 - Of the 1,400 companies surveyed, just under 5% said they would shut their doors for good this year, more than double than a year ago (cont...)

#businesssupport #businessrecovery #governmentsupport

[Cavalry @CavalryGlobal]

2/2 - Mr Broadbent said GDP likely ended 2020 “around 10% lower than at the end of 2019 . . . the sharpest decline, through any calendar year, at least since 1920”.

He also believes the true #unemployment rate is closer to 6.5% than the official figure of 4.9%.

#COVID19

[Cavalry @CavalryGlobal]

1/2 - The Bank of England has warned that the increase in #Covid cases along with the latest national lockdown will push the #economy back into #recession.

Ben Broadbent, deputy governor for monetary policy, said the UK is in the grip of a “double-dip recession” (cont...)

[Cavalry @CavalryGlobal]

2/2 - There will also be a focus on “backing long-term growth and taking advantage of Brexit”, “levelling up” economic growth, encouraging investment and “growing the UK’s competitive advantage”.

#businesssecretary #economicgrowth #economicrecovery

[Cavalry @CavalryGlobal]

1/2 - Kwasi Kwarteng, the new Business Secretary, has announced his five priorities to help the UK’s industries recover from the #coronaviruscrisis . He said he will prioritise “relentless business engagement” and will make clear that “this government backs business” (cont...)

[Cavalry @CavalryGlobal]

2/2 - "But where a customer is unable to do so because of the impact of #COVID19 we will accept they have a reasonable excuse and cancel penalties, provided they manage to file as soon as possible after that.”

#governmentsupport #coronavirusimpact #coronavirussupport

[Cavalry @CavalryGlobal]

1/2 - HMRC will not fine people who file their tax returns late if they have been adversely affected by the #coronavirus.

HMRC said: “We want to encourage as many people as possible to file on time even if they can’t pay their tax straight away (cont...)

[Cavalry @CavalryGlobal]

3/3 - FSB national chair Mike Cherry said: "The development of business support measures has not kept pace with intensifying restrictions.”

#governmentsupport #covid19businesssupport #covid19impact #coronavirusimpact

[Cavalry @CavalryGlobal]

1/3 - Research from the Federation of Small Businesses (FSB) suggests that a record number of small businesses expect to shut this year unless the Government steps in with more help (cont...)

[Cavalry @CavalryGlobal]

2/3 - The FSB has proposed a Directors Income Support Scheme which would pay grants of up to £7,500 to cover three months of lost trading profits to those who earn less than £50,000 a year (cont...)

[Cavalry @CavalryGlobal]

3/3 -

- Nearly half IoD members think the commissioner should be allowed to issue binding monetary awards when mediating on disputes.

- One in three IoD members said that the commissioner should be able to compel the provision of evidence so that he can rule on complaints.

[Cavalry @CavalryGlobal]

1/3 - The Institute of Directors has warned that the #coronavirus crisis has exacerbated a longstanding late payment problem for British businesses (cont...)

#baddebt #latepayments #coronavirusimpact #covid19impact

[Cavalry @CavalryGlobal]

2/3 - The IoD has found that;

- Around two in five business have faced an increase in overdue commercial debts over the past year.

- Two in five IoD members want the government's small business commissioner to be allowed to oversee disputes between small businesses

(cont...)

[Cavalry @CavalryGlobal]

2/2 - Chancellor Rishi Sunak said the cash injection “will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen.”

#COVID19 #coronavirusuk #businesssupport #governmentsupport

[Cavalry @CavalryGlobal]

1/2 - It has now been announced that #grants of between £4,000 and £9,000 will be offered to #SMEs forced to close due to the new #lockdown. These grants form part of a new £4.6bn support package. The scheme largely targets the #retail, #hospitality and #leisure industry (cont..)

[Cavalry @CavalryGlobal]

***NEW BLOG***

Government help for businesses during the #Covid19 crisis may have delayed the inevitable for thousands of firms – and could see a dramatic leap in company failures when the plug is pulled on support.

Read more here - https://t.co/DJEjvJZVXE

#businesssupport

[Cavalry @CavalryGlobal]

4/4 - The general secretary of TUC said: “Without more support, jobs will be lost and businesses will close”.

If your business is struggling seek advice now before it is too late. Visit https://t.co/hcy2fBqKqf to see how we can help.

#covid19uk #covid19businesssupport

[Cavalry @CavalryGlobal]

1/4 - Following the announcement yesterday that the country is to enter a new nationwide #lockdown, unions and business bodies are warning that it will result in further job losses and firms collapsing (cont...)

[Cavalry @CavalryGlobal]

3/4 - The director general of British Chambers of Commerce said the new #lockdown is a “body blow” to firms who are “already in a precarious position, and now face a period of further hardship and difficulty” (cont...)