The UK’s SMEs fear the second wave of Covid-19 more than they fear Brexit. In our opinion, both are potentially devastating.
Almost half of British businesses fear the impact of the second wave of Coronavirus, more than they fear the impact of Brexit, according to new research commissioned Nucleus Commercial Finance.
The number of SMEs surveyed who said the fallout from a renewed and sustained increase in cased of COVID-19 and its associated economic consequences was twice the rate (48 per cent) than those citing the impact of Brexit (24 per cent) as chief among their concerns.
15 per cent of those polled said they were concerned they would have to close their businesses.
The research, which was carried out towards the end of the summer before case numbers began to nudge back up, and polled 506 SME senior decision makers, found that younger people are much less concerned about a second wave of Coronavirus than their older counterparts.
Just 38 per cent of 18-34 year olds are most concerned about a second wave, compared to 52% for those aged 35-54 and 49% for senior decision makers aged 55 and over.
Historical Performance And IFISA Process Guide
That figure is the result of over £20 million of loans facilitated on the site, as we bring individuals looking for a good return on capital together with carefully vetted small companies seeking funds for growth. Bear in mind that lenders’ capital is at risk. Read warnings on site before committing capital.
All loans on site are eligible to be held in a Money&Co. Innovative Finance Individual Savings Account (IFISA), up to the annual ISA limit of £20,000. Such loans offer lenders tax-free income. Our offering is an Innovative Finance ISA (IFISA) that can hold the peer-to-peer (P2P) business loans that Money&Co. facilitates. For the purposes of this article, the terms ISA and IFISA are interchangeable.
So here’s our guide to the process:
The ISA allowance for 2019/20 is unchanged from last tax year at £20,00