Around one in three British businesses have furloughed at least 75% of their workforce due to the coronavirus crisis, according to a new survey.
The British Chamber of Commerce (BCC) found that two-thirds of businesses it spoke to said they had to put some staff on the furlough scheme, which covers 80% of salaries up to £2,500 a month.
But just 2% of the businesses questioned said they had successfully accessed the government’s Coronavirus Business Interruption Loan Scheme, and the BCC said many need cash, quickly.
It comes after the chancellor’s announcement in the Downing Street briefing on Tuesday that we are in “tough times” economically and that he “can’t protect every business and every household” throughout the pandemic.
Speaking to Sky News, the BCC’s Co-Executive Director Hannah Essex said: “If businesses don’t have the money in their accounts they’re going to have to