Small business news roundup-16th October 2020

Covid: Two-week circuit breaker ‘may halve deaths’, report says

A two-week lockdown could be on the cards from the 24th of October, reports suggest. With the three-tier system in place only this week, scientist are warning that this is not enough to help reduce the spread of COVID. The ‘Circuit breaker’ is suggested to halve the deaths between now and the start of 2021.

To read the full story, click here.

Most banks not allowing small businesses to open bank accounts

With the pandemic still in full force, many banks have been inundated with new applications for business accounts. Many banks are now stating that they are unable to accept any new applications for the foreseeable feature.

Here is a list of the banks that are not accepting new applications:

  • HSBC
  • Metro Bank
  • Lloyds
  • RBS/NatWest

Here is a list of the banks that are accepting new applications:

  • Monzo
  • Starling
  • Tide

To read the full story, click here.

Will we be getting our cash from shops, not ATMs?

As the pandemic continues, the use of cash has decreased. With the spread of the Coronavirus, the government warned not to use money and opt for card payments. Due to the reduction of cash use and the closure of banks as well as ATM’s, local shops might be the only way to withdraw out cash from your account.

The Treasury is now proposing that all shops allow you to get cash-back without purchasing anything. Previously this was not widely accepted due to EU laws making this difficult. With the change in circumstances, this is now the new way forward.

To read the full story, click here.

 Covid: London and Essex due to move up to Covid Tier 2

The tier system introduced by Boris Johnson this week is now put in place. Liverpool is currently the only city in tier 3 at (Very high) with London and Essex to move up to tier 2 this weekend. This will have a massive impact on these areas, such as not being able to mix in both households and pubs.

To read the full story, click here. 

By |2020-10-16T16:16:25+01:00October 16th, 2020|News|0 Comments