The coronavirus pandemic has hit business hard, and in response the government has provided significant levels of support.
However, some companies, and their directors, have unfortunately fallen through the cracks of these support schemes. In a recent Policy Voice survey, as many as 1 in 5 IoD members said they hadn’t been able to access support.
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Those missing out include small firms that can’t obtain loans, those that don’t own their own premises, the self-employed who fall outside existing criteria and company-owner directors who primarily receive their income through dividends.
The IoD has led calls for these groups to be aided. We have written to the Business Secretary outlining our concerns, and putting forward the idea of a discretionary grant scheme to fill the gaps.
Read the letter here.