Chirag Shah, CEO, Nucleus Commercial Finance comments:

“SMEs across the country were hoping to reopen on 21st June and had naturally planned for this financially. This delay combined with winding down of government support is undoubtedly a big blow for those businesses who have started making repayments on existing facilities. Our own research found that only a quarter of SMEs were anticipating a delay to reopening, meaning the majority of businesses were caught off guard.

“As we enter the next stage of the lockdown exit strategy, SMEs will need more support than ever and this is where the government has a vital role to play. What businesses need is a clear road map and better communication around delays to restrictions, which will allow them to plan for the future and ultimately their success.”