UKFT campaigns to support small companies amid COVID-19

03 Apr '20

2 min read

Pic: Shutterstock

UKFT is urging the government to provide support for individuals or companies that are not eligible for any of the existing Covid-19 related protection schemes. UKFT has been speaking with companies and individuals throughout the UK fashion and textile industry over the past few weeks and have identified a number of issues, which must be addressed urgently.

The association is referring to these companies as the ‘forgotten middle’ and they include the owners and/or founders of small limited companies who derive their income from a limited company but not through PAYE, the self-employed who have not shown any profits and those who were employed after February 28, 2020.

UKFT is raising this issue with the government on a daily basis as are the CBI. UKFT is also raising many other issues with the government including; difficulty of accessing coronavirus business support loans; the need for a rates holiday for all businesses; the huge difficulty caused by retailers and brands cancelling orders; the limitations of the Small Business Grant scheme; the need to make the finance from the support schemes available much more quickly; and the need for the government to significantly increase the support available to the industry when the immediate crises has passed, according to a press release by UKFT.

Fibre2Fashion News Desk (GK)

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