Hospitality sector bangs pots and pans in Parliament Square to call for further government support October 19, 2020 Chefs, farmers, waitresses and caterers took their pots and pans to Parliament Square today to make their calls for further government support for the hospitality sector heard across Westminster. Hundreds of workers from the food and drink industry urged ministers to provide fresh funding to save wide-scale job losses and venue closures, as further restrictions [...]
Barbican Theatre to reopen with The Ghost Light, a mystery production for audiences of one October 17, 2020 The Barbican Theatre will reopen next month with The Ghost Light a show performed for audiences of just one guest and up to five of their friends. The theme of new show The Ghost Light, the first production at the Barbican Theatre in seven months, will remain a mystery until audience members take their seats, [...]
Back to Business: How East London baker Lily Vanilli changed direction to cope with covid October 16, 2020 Who are you and what do you do? I’m Lily Jones from Lily Vanilli, a baker and cake decorator based in East London. I have a weekend cafe on Columbia Road and make creative cakes and pastries to order for home delivery, weddings and events, as well as consulting for other brands and businesses. How [...]
A lost generation of startups: are early-stage companies being left behind? October 15, 2020 Early-stage companies face a difficult winter ahead as barriers to funding increase and the number of failing tech startups soar. Last month saw a record number of filings for administrations, liquidations or dissolutions of the UK’s startups. Research by Plexal and Beauhurst published today reveals more than 1,000 tech startups have filed since the start [...]
Business groups warn London lockdown would ‘crumble’ capital as mayor calls for support October 15, 2020 A London lockdown would “crumble” businesses and turn the capital into a “ghost town”, leading business bodies have warned City A.M, as fresh restrictions are likely to be imposed on the city in the next few days.
Business bodies urge chancellor to ‘go further’ with new furlough scheme October 9, 2020 Businesses in the hospitality sector have said Rishi Sunak’s support package “must go further” to avoid wide-scale job losses, after the chancellor today unveiled a new furlough scheme for businesses facing local lockdowns. Sunak today said the government will pay two thirds of employees’ salaries to businesses forced to shutter under fresh lockdown measures. Firms [...]
Ecommerce platform Clearbanc injects £500m into British startups October 8, 2020 Ecommerce investor Clearbanc has announced its plans to invest £500m into British SMEs over the next year as part of its UK launch. The alternative capital platform, founded by Canadian Dragons’ Den star Michele Romanow, will use its AI platform to invest in British online startups to help with future growth. Clearbanc has already invested [...]
Bounce Back Loan scheme could cost the taxpayer up to £26bn October 7, 2020 The cost to the taxpayer of the government’s emergency loan scheme for struggling small businesses could be as much as £26bn, a new report has found. According to the National Audit Office (NAO), the cost of the government’s Bounce Back Loan scheme “has the potential to be very high” through a combination of firms being [...]
On the brink: SMEs cut off from bounce back loans as banks close to new customers October 6, 2020 Small businesses are being shut out of potentially life-saving bounce back loans (BBLs) because lenders are turning down new customers, despite the funds being fully guaranteed by the government. City A.M. has spoken to a number of businesses who have had applications to set up new business accounts with lenders rejected, often without explanation. Many [...]
UK businesses borrowed more in one quarter than in whole of 2019 October 6, 2020 British businesses borrowed 50 per cent more in the second quarter of 2020 than in the whole of the previous year as the coronavirus crisis hammered the economy, new figures show. Businesses borrowed a total of £34.5bn in the three months to the end of June, according to a report by banking lobby group UK [...]