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C&W businesses welcome 'furlough' portal as payday looms

Business leaders in Coventry and Warwickshire have welcomed today’s (April 20) launch of the portal for firms to claim money for their furloughed staff.

Applications are now open for the Coronavirus Job Retention Scheme which allows employers to claim for a cash grant of up to 80 per cent of a furloughed employee’s wages, capped at £2,500 a month.

C&W businesses welcome 'furlough' portal as payday looms

The scheme has proved to be one of the most popular methods of support for firms offered by Government during the crisis with two-thirds of companies surveyed by the British Chambers of Commerce saying they intended to furlough some staff.

Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “The Coronavirus Job Retention Scheme has brought breathing space for companies across our patch and we welcome the launch of the portal which will allow firms to claim the cash.

“It has been built from scratch by the Government and there is absolutely no doubt that demand on the system is going to be huge.

“From everything we hear from businesses cashflow is the biggest headache for the majority of companies and, with April's payroll looming large on the horizon, many businesses are going to find this to be a real pinch point for cashflow so it is vital that that funds hit bank accounts as quickly as possible.”

Louise added: “It was positive news, too, that the scheme has been extended to the end of June which means firms across Coventry and Warwickshire have been given more time and money to protect more livelihoods during this crisis.

“We are in regular dialogue with businesses across our region to ensure that the support from Government is targeted in the right way.”

The link to the Coronavirus Job Retention Scheme portal is:

For more information or support from the Chamber call 024 7665 4321.

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