Government help is welcome but firms can’t wait weeks or months for it to arrive, a new report says.
It adds while government help is welcome, firms are finding it difficult to wait weeks or months for the cash injection.In addition, a majority of companies reported a significant decrease in their revenue from both the UK and overseas.
A report from the tracker states 18% of businesses reported less than a month's worth of cash in reserve, while 44% reported only one to three months' worth of cash in reserve.Advertisement Meanwhile 18% of businesses had closed operations temporarily and, although no respondents had yet closed business operations permanently, both figures are expected to rise over the coming weeks and months.
Director general for the BCC, Dr Adam Marshall, said:"The coronavirus pandemic has taken a heavy toll on business and economic activity across the UK.
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