British Chamber of Commerce: Firms are ready for a gradual reopening of the economy

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British Chamber of Commerce Coronavirus Business Impact Tracker

British Chamber of Commerce (BCC) launched the Business Impact Tracker, tracking the impact of the pandemics on business week by week. The leading business organisation’s weekly tracker poll serves as a barometer of the pandemic’s impact on businesses and the effectiveness of government support measures. It also tracks how quickly new government interventions, introduced to deal with the real-world impact of this crisis, are getting to the businesses at the front line.

During the first week of the pandemics outbreak, the results from the BCC’s first Coronavirus Business Impact Tracker painted a concerning, if unsurprising, picture for business communities affected by Coronavirus.

Week 7 shows that firms are ready for a gradual reopening of the economy but will need continued, adaptable government support during a phased return to work. 

The seventh tranche of polling was conducted from 5 – 8 May, prior to the Prime Minister’s announcement on a roadmap to gradually ease lockdown restrictions and the launch of safe workplace guidance.

The vast majority of respondents continued to report high levels of readiness to restart operations as and when the government eases restrictions, with 89 per cent requiring three weeks or less to reopen. 

Government guidance signals big changes for the way that many businesses operate, and some firms will now need time to plan and speak to their employees so that they can return to work safely”. –  BCC Director General Dr Adam Marshall said. Alongside this guidance, businesses urgently need clarity on the future of government support schemes, which must be adapted to help those firms who need to remain closed for an extended period or face reduced capacity or demand.

Source/Image Credit: British Chamber of Commerce

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