Small and medium businesses (SMEs) in the UK seemed to be doing well in 2020. Britain had a majority Government in the UK. We have witnessed some positive effects of the Brexit as business confidence started to move up. However, after Covid-19's growth, Economy started to collapse, production chains stalled or disrupted, and company revenues declined or in many cases entirely stopped. PhD Assistance is an Academic The Best Dissertation Writing Service & Consulting Support Company established in 2001. specialiWeze in providing PhD Assignments, PhD Dissertation Writing Help , Statistical Analyses, and Programming Services to students in the USA, UK, Canada, UAE, Australia, New Zealand, Singapore and many more. Website Visit:https://www.phdassistance.com/blog/ Contact Us: UK NO: +44-1143520021 India No: +91-8754446690 Email: info@phdassistance.com

1. IMPACT OF SMALL AND
MEDIUM ENTERPRISES
(SME) POST COVID
SITUATION
An Academic presentation by
Dr. Nancy Agens, Head, Technical Operations, Phdassistance
Group www.phdassistance.com
Email: info@phdassistance.com

2. In Brief
Covid-19 Challenges that SMEs are Facing
Ways SMEs can Offset the Impact of Covid-19
Programs and Initiatives that are of no Interest to the SMEs
Conclusion
Outline
TODAY'S DISCUSSION

3. Small and medium Businesses (SMEs) in the UK seemed to be doing well
in 2020. Britain had a majority Government in the UK. We have witnessed
some positive effects of the Brexit as business confidence started to move
up. However, after Covid-19's growth, Economy started to collapse,
production chains stalled or disrupted, and company revenues declined or
in many cases entirely stopped.
In Brief

4. Handle cash resources while the profits have declined.
Coping with fragmented supply chains and logistics problems have ensured that
SMEs are investing considerable time investigating vendors to determine the key
gaps in the ecosystem.
Knowing about their responsibilities to the staff as supervisors, such as better
managing the delivery of Personal Protective Equipment ( PPE) to their staff and
encouraging employees operating from home.
Covid-19 Challenges that SMEs are Facing
Contd..

5. SMEs needed to extend their usage of technologies to boost internet connectivity
and enable staff to conduct their everyday activities after the new laws of the UK
Government on citizens operating from home came out.
Guidance from the UK Cabinet Office says firms who do not obey the steps will be
pressurized to close.
Another problem confronting SMEs is growing illness, where absence of staff will
place more strain on other workers to work extra hours to support those who are ill.

6. The workers who work from home
Working out redundancies
Reducing the hours/shifts of workplace vacancies
Shutting down their office or temporarily closing down their operation.
The UK Government declared that their People's Employment and Wages Program would: secure
the livelihood of families; offer more affordable assistance to all who are unemployed; improve the
Social Network; and enable families to live at home.
However, several companies have also embraced the following:
Ways SMEs can Offset the Impact of Covid-19

7. CORONAVIRUS JOB RETENTION SCHEME: those UK workers having a PAYE plan
beginning on or before 28 February 2020 should be entitled to receive 80 % of their
normal monthly payroll expenses up to £ 2,500 a month.
DEFERRING VAT AND SELF-ASSESSMENT PAYMENTS: The report to 31 March 2020
indicates payment-on-account delays. It slows improvements to the Make Tax Digital
(MTD) for VAT control in the UK Government process.
ACCESSING THE HMRC TIME TO PAY SCHEME: their goal is to deal with taxes and
gives all UK SMEs who would join this system, the opportunity to create a defined debt
reduction program for a negotiated time period.
Programs and Initiatives that are of no
Interest to the SMEs
Contd..

8. STATUTORY SICK PAY RELIEF: UK SMEs having 250 plus employees as of 28
February 2020 are allowed to access this program.
HAVING A 12-MONTH BUSINESS RATES HOLIDAY: this is for the UK food, leisure,
entertainment, and nursery businesses, that will be entitled to join this program.
USING GRANT FUNDING: it offers £ 25,000 to food, retail, and amusement businesses.
SME GRANT FUNDING: enables British companies to use up to £ 10,000 in duty
reduction or local cost reduction.
Contd..

9. CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME: Offers loans of up
to £ 5 million via the British Business Bank to SMEs with annual turnover not
crossing £ 45 million.
A NEW LENDING FACILITY: helping companies mitigate disruption to their cash
flows from coronavirus by Bank of England loans. Industries that make a
substantial difference to the British economy would be able to join this program.

10. Therefore, UK is ready to curb some of their Economic woes caused by
Corona virus.
The programs that I have mentioned above are intended to support
UK’s SMEs to mitigate the existing Covid-19 effect and help them
brace for the long-term market effects of this pandemic.
Conclusion

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