Businesses on a 'cliff edge' warns Dorset Chamber

Businesses on a 'cliff edge' warns Dorset Chamber

Published by George Sharpe at 12:07pm 13th April 2020. (Updated at 12:15pm 13th April 2020)

Dorset's businesses are on a 'cliff edge' without access to the funds, warns Dorset Chamber of Commerce 

Just 1% of firms have successfully accessed government coronavirus funding according to a survey by the British Chamber of Commerce.

Dorset Chamber of Commerce are urging businesses to apply for whatever coronavirus funding they can. 

Cheif Executive Ian Girling said:

"Support is there for businesses. According to the survey results, the majority of firms know about it but haven't successfully applied as yet.

"In Dorset, our councils have been moving very swiftly to get support out for businesses, as has the Dorset Local Enterprise Partnership.

"We would encourage all businesses to be proactive and consider every single ounce of assistance available."

The survey, by the British Chamber of Commerce also revealed 8% of firms had been unsuccessful in getting a Coronavirus Business Interruption Loan Scheme (CIBLS).

Office Computer Business

Ian added:

"These results show that some businesses face a cliff-edge scenario.

"We've seen a big jump in the number of firms furloughing staff, and many are now starting to apply for access to government loan and grant schemes to keep themselves afloat. 

"Yet our research suggests that support is only starting to reach firms on the ground.

"We are pleased that the Chancellor is listening and responding to our calls to strengthen the existing support. 

"Improvements to the CBILS scheme should help more businesses get access to the cash they need over the coming days and weeks. 

"This could be the difference between survival and insolvency for many firms."

Dorset Council are encouraging people to apply for their two new grant funding schemes:

  • The Small Business Grant Fund (SBGF)
  • The Retail, Hospitality and Leisure Grant Fund (RHLGF) 

For more information, please visit:  https://www.dorsetcouncil.gov.uk/business-grants