CHAMBER NEWS


Chamber responds to interruption scheme for large businesses


Eileen and Jean at the Enterprising Women Awards 2020


Enterprising Women goes online


This year started off with a glittering start for Enterprising Women with the fantastic Enterprising Women Awards 2020 Gala Dinner taking place back in March. Despite many events being


cancelled or postponed since due to Covid-19, Enterprising Women is still on hand to provide support and guidance throughout these uncertain times. We recently ran our first online


event based on leadership, with Chamber President Dawn Edwards joining to talk us through how to be the best leader for your teams. We were overwhelmed by the positive feedback from this event and it was brilliant to get the network back together again. Following the success of April,


we have two more online events scheduled over the coming months. In May, we will look at ‘finding your voice’, featuring guest speaker and actor Buckso Dhillion- Woolley, while in June we welcome Future Life Wealth Management’s Managing Director, Jillian Thomas to consider ‘facing adversity’. Enterprising Women is all


about connecting female professionals and providing them with the tools they need to thrive. Our members are from a variety of different industries and sectors that will all have their own unique challenges during this time. Moving our network online means our members can stay informed, continue to learn and fulfil their best potential.


Best wishes, Jean and Eileen Co-chairs of Enterprising Women


For more information about Enterprising Women, and to book onto its online events programme, please visit www.emc-dnl.co.uk/connecting- you/enterprising-women


22 business networkMay 2020


Many large businesses are having to furlough staff during the


pandemic. Below: Scott Knowles


The Chamber has welcomed the launch of a new initiative to help larger businesses affected by the ongoing Covid-19 pandemic. The new Coronavirus Large


Business Interruption Loan Scheme (CLBILS) aims to provide the UK’s larger employers with access to temporary emergency funding. It means firms with turnover of between £45m and up to £250m can borrow up to £25m, while firms with turnover of more than £250m can borrow up to £50m. The scheme provides lenders


with a Government-backed partial (80%) guarantee against the outstanding facility balance and is open to businesses which have not received a facility under the Bank of England’s Covid Corporate Financing Facility. It will be available through a


range of lenders and partners accredited by the British Business Bank.


Chamber Chief Executive Scott


Knowles said: “The UK’s larger businesses are facing different but no less critical pressures to their SME counterparts, so this latest intervention, provided it delivers what’s intended, will provide welcome relief. “Cash flow is the lifeblood of any


‘This latest intervention, provided it delivers what’s intended, will provide welcome relief’


business, so ensuring that credit and funding is available to those firms which need it most is what will help keep them ticking over until we reach the point where the economy can fully reboot. “The economy is reliant on the


jobs, wages and productivity that larger businesses support, so it’s crucial that they are allowed to keep trading as long as is viable


and are able to make decisions regarding staffing levels, furlough leave and other capacity-related issues with confidence. Alleviating their short-term funding pressures will allow them to do so. “Government needs to keep a


close eye on how well this scheme performs in it’s opening days to ensure that any issues can be resolved quickly to give it the best chance of having its desired effect.” Alongside the CLBILS,


Government has also set live the highly anticipated Coronavirus Job Retention Scheme application portal. Affected businesses can now apply for financial assistance for those ‘furloughed’ employees, covering 80% of their usual monthly wage, up to £2,500 a month, plus the associated Employer National Insurance and pension contributions. Scott continued: “While the


Government deserves credit for the way it has responded to the current crisis by introducing a substantial package of measures to provide the financial support that businesses need, its focus must now be on ensuring it is delivered as quickly, smoothly and efficiently as possible so affected employees can be paid without delay.”


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