Begins in November 2020 and runs for six months
Employees must work one-third of their hours to qualify
Staff will receive at least 77pc of their pay
Treasury will contribute 22pc, capped at £700 per month
Employer will contribute at least 55pc
Category: Business Support
Better now or better then?
The UK government have got this horribly wrong.
In business, we make decisions on facts; if the facts are lacking, you test & measure. If the data isn’t there, you wait to make decisions, and you delay, you pause while the KPI (Key Performance Measure) becomes available.
Most of the thousands of SME business owners who have heard me speak will testify to my views on how to prosper. The decisions we need to make to drive our businesses forward. The methods of obtaining a commercial advantage. The areas of opportunity that many companies miss. Or too swamped with the pressures of the day to day to make the most of the opportunity.
So to examine the UK Conservative governments actions, the shared western democracy panic as the first wave of the Covid 19 pandemic hit. Would have been premature.
Only use the wage subsidy scheme if viable
The Covid trading restrictions are effecting a specific number of sectors. However, most businesses are best to trade without accepting the new offer from the Government.
If you are in the sectors most affected, consider whether continuing to limit trade with reduced employee hours is the best option. Great people are always worth retaining, but spreading the pain of reduced need to create jobs may not only be costly for the productivity of staff but unfair on the best performers. (more…)
SME Business In the UK 