CEA COVID-19 Bulletin #10
The good news this week for SME members is the Chancellor’s announcement yesterday of a new Bounceback Loan Scheme, for loans between £2,000 and £50,000 the government will underwrite the loan 100%. Application procedures have been greatly simplified and eligibility criteria relaxed. No repayments are required for 12 months. Click here to read Bulletin #10.
The results are in from last week’s CEA Member Snapshot Survey on the state of the industry under COVID-19 lockdown. Whilst most of the OEMs are shutdown with most staff furloughed, a more positive response was returned from our more niche SME members who reported continued factory working, new orders coming in and additional orders placed due to overseas component suppliers being unable to fulfil demand. Perhaps an encouraging sign or reshoring of a reliable domestic supply chain post COVID.
To see the analysed survey results click here.
