Some very interesting insights into the world of corporate turnaround, at our Chamber Growth Club. Next meeting 18th August
- The drop in insolvencies. The calm before the storm
- Furlow – Size of Businesses
- Furlow by Sector
- Recovery Loans BBLS CLBILS and Bounceback
There were many more insights, but the bottom line for Directors is that if you have taken out a loan, that you might struggle to repay, you should give Alan a call. He is there to help. There has been Fraud on these loans and the Government are investigating all the defaults, with potentially quite severe consequences. You should ensure that all you ducks are lined up before any missed payments. Government expects up to 40% default rate, and has appointed KPMG to investigate all defaults.
Below this line the commentry is my personal input. Not Carter Clark’s
The calm before the storm. Government monies have suported businesses, but many will fail. Defauts on loans are expected to be around 40% by number of loans.
Showing big forms over 250 employees had most of the money, and how the new variants caused by not stopping the planes have caused new lockdowns and more costs to the taxpayer.
The interesting point here is fourth from the right. Number of Public Sector emplopyees furlowed – None. They all sat at home on full pay. Some were very busy. But many not.
Here are the people who will be carrying the debt for the consequences of not stopping the planes. New Zealand stopped the planes. Total deaths 26. Economy back up and running in 2 months. Public Sector took a 25% pay cut in line with the private sector losses. So far New Zealand has had no second wave.
The Bounceback loans were taken out by smaller businesses. Up to a max of £50k.
Take care everyone