The End of State COVID-19 Support for Businesses: What to Expect in September?

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The End of State COVID-19 Support for Businesses: What to Expect in September?

Countries across the world, those which can financially afford it, are trying to help businesses to survive the COVID-19 restrictions imposed by the national governments. The UK government has introduced the Furlough Scheme which covered one in eight members of the UK workforce is coming to an end. However, UK businesses don’t regard the situation as gloomy. Accordingly, only 1% of businesses are considering the risk of insolvency is as severe. Only 10% of surveyed businesses are considering the risk of insolvency is moderate.

As an example, the Russian government has passed the burden of all the COVID-19 restrictions on the business, ordering employees to stay at home while businesses were ordered to pay salaries in full. Countries like Cyprus and Singapore are actively supporting local businesses to weather the difficult time. In sharp contrast to Russia, the Singapore government has even covered a small percentage of rents in addition to providing support for salaries of employees affected by the COVID-19 restrictions.