SME supply chains feel the
strain due to Covid-19
MORE SME's are changing
their credit terms with their suppliers due to Covid-19, finds
the latest results from the ACCA UK and The Corporate Finance
Network (The CFN) SME Health Tracker. The survey of accountants,
representing nearly 19,000 SME clients, also shows that the
current business environment of opening up is slowly easing the
intense strain on anxious SME's; 69% of accountants reported
their SME clients had shared feelings of being more stressed and
anxious than usual, compared to a Tracker high of 75% last week.
This week's Tracker reveals a new pressure on SME's; managing
their credit terms with suppliers. 32% are changing their terms,
a necessity at this time due to concerns about the financial
stability of their customers and to protect liquidity in their
own business.
The results which closed on the 17 June 2020 also show:-
► 2.9% of SMEs say they've decided to liquidate their business.
► 15% say they feel that social distancing requirements as they
currently stand will make it impossible / unviable to reopen
their business; compared to 12% last week. This is a sign of
reality kicking-in for many SMEs.
Kirsty McGregor, founder of The CFN network comments:-
"Altering credit terms needs to be handled very carefully to
balance the equation of protecting relationships while also
ensuring cash flow is more secure. SME's often have a delicate
supply chain and this has become all the more fragile due to
Covid-19. This is the reality of where SME's are right now; it's
a way to protect a business's cash flow and liquidity and is an
indication of loans not working for some."
Claire Bennison, head of ACCA UK adds:- "Tracking the
wellbeing of SME owners has been sobering. Accountants are
hearing 1st hand from their SME clients about their concerns and
fears, and while we've seen a decline in sentiment this week,
the feedback is still alarming. We predict this will fluctuate
in coming weeks as SME's experience the reality of what
unlocking truly means for them and the UK economy."
Total UK cases COVID-19 cases - update for Liverpool City Region
and surroundings
ON the
day a 13 day old baby becomes 1 of UK's
youngest victims of the virus, the
total number of
officially reported UK Coronavirus (COVID-19) infections that
have been laboratory confirmed, within the UK, has risen by
1,218 cases and the total number now stand at 300,469, that
includes tests carried out by commercial partners which are not
included in the 4 National totals.
Daily number of COVID-19 associated UK fatalities added to the
total, was sadly reported to be 135 according to the Department
of Health. The total number of deaths of people who have had a
positive test result confirmed by a Public Health or NHS
laboratory is 42,288.
In England, there are a total of 158,078 confirmed cases. North
West - total of 26,911 confirmed cases. The number of laboratory
confirmed cases within the following Local Authorities, in and
around the Liverpool City Region are as follows:-
► Liverpool, 1,670 confirmed cases.
► Sefton, 967 confirmed cases.
► Wirral, 1,352 confirmed cases.
► St. Helens, 762 confirmed cases.
► Halton, 412 confirmed cases.
► Blackpool, 677 confirmed cases.
► Blackburn with Darwen, 422 confirmed cases.
► Bolton, 1,047 confirmed cases.
► Bury, 809 confirmed cases.
► Cheshire West and Chester, 1,220 confirmed cases.
► Cheshire East, 1,325 confirmed cases.
► Lancashire, 3,808 confirmed cases.
► Manchester, 1,697 confirmed cases.
► Oldham, 1,142 confirmed cases.
► Rochdale, 870 confirmed cases.
► Stockport, 1,074 confirmed cases.
► Tameside, 844 confirmed cases.
► Trafford, 871 confirmed cases.
► Wigan, 1,229 confirmed cases..
UK Government Coronavirus Press
Conference on 18 June 2020