The business community has suffered badly from the impact of the Covid-19 pandemic.
Despite the Government providing substantial financial help through the furlough scheme and various loans and grants, many businesses will continue to struggle. The third national lockdown has meant everything has been placed on hold.
With the vaccine rollout meaning that the end to lockdown is drawing nearer, what conditions will many businesses face? The Government will take steps to ensure the economy recovers and quickly, to recoup some of the money spent in supporting the country through this pandemic. This will be mainly achieved through HM Revenue & Customs.
This will add cash flow pressures to businesses in uncertain times. Some sectors will flourish once lockdown ends but others will continue to struggle and may have little choice but to consider the future viability of the business.
At LB Insolvency, we can help you prepare for the post-Coronavirus trading conditions. By talking to us, we can assess your options – there may be steps you can take which will allow your company to continue. Our aim is to help you achieve the best possible, beneficial outcome for you and your business.