Small businesses that have accepted government support in the form of CBILS and Bounce Back Loans may find themselves at a crossroads as they seek a way through distress into recovery. We speak to Rebecca Dacre, Partner at Mazars, and a licensed insolvency practitioner.
I work with privately owned businesses lots of them are family businesses, says Dacre. Some are doing really well. They have taken government support, and, in many cases, it’s given them not just a lifeline to survive through the coronavirus process, but also the opportunity to turn themselves around, and to come back even stronger.
She cites examples of companies that would have failed before the pandemic, but the opportunity to furlough staff has given them the breath…
Read the full article at: https://www.icaew.com/insights/viewpoints-on-the-news/2021/april-2021/government-support-and-the-day-of-reckoning-for-small-businesses
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