search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
Sector Focus


Finance Banks must do more to help retailers


High-street banks are failing to support small independent retailers in the wake of the Covid- 19 crisis, a new members’ survey by the British Independent Retailers Association (Bira) has revealed. Bira asked its members a number of key


questions about the support they've received following the outbreak of coronavirus, including one about help from the banks. However, the survey found that only one per


cent of the members who have applied for a business interruption loan had been successful so far.


‘It is clear that the well- intended Government initiatives are not reaching the retailers that need the support’


Almost 20 per cent of those surveyed had


approached their lender for help - with many still waiting for a response. One member said: “I was advised an overdraft


would be better suited for my needs with an arrangement fee of £150 and more than 6 per cent interest.” Another said: “Had a rather lengthy discussion


that was very downbeat and obstructive even though they hold security on my mortgage-free business premises.” Andrew Goodacre, Bira's CEO, said: “It is clear


Andrew Goodacre: More help needed from the banks


that the well-intended Government initiatives are not reaching the retailers that need the support. “The self-employed income protection scheme


will only help a quarter of retailers. “The high street banks are simply not willing


to help and should hang their heads in shame. Independent retailers have no money coming in, have had low margins and low profits for many


years and need more support than is currently available - otherwise many of these businesses will not re-open when the situation returns back to normal.”


*Bira has also launched a new dedicated coronavirus hub to help members and the wider independent retail community through the crisis. The organisation is offering a free membership package to help businesses through the Covid-19 crisis. Independent retailers who sign up for the


Coronavirus Membership Package can gain complimentary access to Bira member benefits for three months, in return for a nominal donation of £1, £5 or £10 to the Rainy Day Trust. The deal, available until 30 June, will support


the independent retail community through the unprecedented coronavirus pandemic. New members will be able to access unlimited


legal advice on employment law, HR, health and safety and also be able to use a free e- commerce facility to sell online, among other benefits. Andrew Goodacre said: “Bira has always


offered great support to its members by offering quality and unique services. “In these unprecedented times we are keen to


help independent retailers in general by keeping them up-to-date with the latest information. We cannot offer the full range of services but hopefully we provide sufficient support when people need it most.”


60 CHAMBERLINK May 2020


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80