Following a review of the Government’s financial support packages, the GGF has formally written to The Chancellor of the Exchequer highlighting the cash flow crisis caused by the COVID-19 outbreak and the length of the process to claim and receive payment under the new Government schemes.
The GGF also proposed three ways to improve the current financial situation many small to medium sized companies find themselves in at the present time.
The three proposals include:
- That glass and glazing companies be made eligible for the Cash Grant Scheme (that is currently open only for companies in the retail, hospitality and leisure sectors)
- That glass and glazing companies are made eligible to apply for the current Business Rates Holiday (currently only open to companies in retail, hospitality and leisure sectors)
- To increase the maximum amount that can be claimed under the Small Business Grant Funding scheme from £10,000 to £30,000
The GGF has asked the Chancellor to treat these requests as a priority to prevent many small to medium sized companies potentially going out of business and causing greater problems throughout the supply chain.
To read the very latest on the Government Business Support Packages and to find out how you can apply for financial support please visit: https://www.businesssupport.gov.uk/coronavirus-business-support/