- 10 Jun
Did The UK Government Give Recruiters Enough Support Through Covid
Recruitment has been affected by Covid-19, like most sectors of the UK economy. We asked a sample of randomly selected recruitment companies, if they thought that the UK Government had given recruiters enough financial support during the Covid crisis.
Was Government Covid-19 Financial Support Adequate?
We posed this question to some recruiters, and we were told the following:
- 77% said the financial support was enough
- 23% said it was too little
- No one thought it was too much
Therefore, in more than three quarters of cases recruiters thought that the UK Government had done enough to provide adequate support. This is good news, most staff agencies think that they have been given adequate government support to survive the crisis.
A Quarter Said The Support Was Inadequate
However, that leaves just under a quarter that thought the support was less than was required. This is the most concerning segment, those that have not had enough financial support to get them through the crisis, and ensure their survival.
Within this group that found the support inadequate, there could be struggling companies that may drive a future wave of insolvencies. Now may be the time for them to take action, and turnaround their struggling businesses, before they face insolvency. We would suggest that they take a look at our free guide to: Turning Your Business Around.
Too Much Support?
Interestingly, no one thought it was too much, a view that we have heard from some parties.
Financial Support Following Coronavirus
During the pandemic, the UK Government put in place a number of measures to support businesses. These included cheap loans, VAT deferrals and grants to help those that were affected.
As we enter the economic recovery phase following the impact of coronavirus, a new Recovery Loan Scheme has been put in place to continue that support, for those that need it. Even if you don't qualify for that scheme, there are likely to be other funding options that are available to support your company. Please call Sean on 03330 113622 to discuss your options.
Source: Recruitment Covid Study - May 2021 (30 respondents randomly selected from the recruitment sector).