Yesterday’s emergency ‘mini-budget’ from Chancellor Rishi Sunak will do much to help small business, logistics companies and retailers struggling to survive the impact of Covid-19, says the small business champion ParcelHero. It believes the schemes he revealed will boost High Street and multichannel businesses and reduce costs for struggling manufacturers.
ParcelHero’s Head of Consumer Research, David Jinks MILT says:
‘Britain’s retailers and the logistics companies they rely on will find plenty to welcome in today’s financial statement. A new jobs retention bonus of £1,000 for businesses who bring staff out of furlough and retain them through to January will give companies the funding to retain valuable (currently furloughed) employees, such as warehouse and back office staff preparing orders for delivery.
‘Many couriers and retailers are looking to take on new staff to cope with unprecedented levels of home deliveries and e-commerce. The new £2bn kickstart scheme for 16-24 year olds, with businesses being paid directly for new starters, will be a boon for many firms.
‘New funding measures such as £1,000 per new trainee, £2,000 for new apprentices and a further £1,500 for apprentices over-25 will also boost logistics companies who make considerable use of trainees and apprentices in distribution centres and vehicle maintenance roles.
‘The slash in VAT from 20% to 5% for hospitality and tourism industry businesses will be a significant boost to, for example, home delivery companies that rely on delivering food from restaurants and take-aways to customers’ homes.
‘Finally, the ‘Eat Out to Help Out’ scheme, which will halve the price of a High Street meal from Mondays to Wednesdays throughout August, will further boost High Street footfall and encourage people to return to town centre stores. This is more good news for any retailer that has a multichannel physical store and an online sales strategy.
‘Far from being a traditional ‘tax and spend’ budget, this was a ‘tax cuts and send’ mini-budget that will considerably ease the strain on stretched retail, manufacturing and delivery organisations.
‘For ParcelHero’s latest information on every available quality courier service currently available, for both everyday senders and retailers, see its live parcel price comparison quotes at https://www.parcelhero.com/en-gb/uk-courier-services