Small business owners who duck out of repaying Covid debt face ban
With many loans being provided over the course of the pandemic for businesses who are suffering, the reality of paying these back is in full force.
Reports now suggest that if small business owners do not repay their debt, they could be banned from being company directors.
This ban could last 15 years if they are thought to be abusing the system and avoiding repayments.
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Renter evictions ban to finish at end of May
With the covid restrictions easing so is the help for renters in the UK, since the start of the first lockdown.
Even though the eviction ban is set to end in May The Ministry of Housing said renters will continue to be supported as national coronavirus restrictions ease. The eviction notice period will decrease from six to four months from June 1. Which is still longer than pre covid amount of just two months.
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Commercial leases will be covered from evictions until 30th of June, with an option for the government to extend if needed.
Booming UK economy to outpace US, says Haldane
The UK economy is set to grow at its fastest pace since the Second World War, overtaking the US, according to Bank of England economist Andy Haldane.
The low covid infection rates and the vaccine rollout has both contributed to the surge in customer spending.
Haldane suggested that although the inflation levels are rising this could turn into a bust if spending is not consistent.
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eBay launches small business loan
eBay are launching into the same-day small business loan market, offering finance anywhere between £500 to £1m.
eBay have set up the same day loan service to help it’s 300,000 small business users to bounce back from the pandemic.
Here is the link for setting up your business loan.
For the full story, click here.
