BPMA Business Updates

With much of the anticipated detail on areas like the Job Retention Scheme becoming available on Friday, Government also announced relaxation for companies around wrongful trading and insolvency. Welcome measures in the light of the tough and often impossible choices so many businesses are faced with.

 

As we await the next wave of legislative change in this area, our focus in the coming days is for those not covered by the Job Retention Scheme or the Self-Employed measures. Aware of this affecting many members, feedback has already been given to Government on this area noting the urgency of solutions required. For those of you who were able to join last week’s webinar, you will have seen a timeline that KPMG created to show the rapid adoption of new measures by Government - but not fast enough for so many businesses across the UK.

 

We’d like to thank all those we have already had chance to speak or correspond with; understanding your situation helps us represent your views to the forums that are influencing and making those changes that will make the difference between surviving and thriving in the months to come. 

 

Supplier updates: keeping BPMA members updated 

Thank you to everyone who has already responded to Daniela’s request for information about your current status; we are publishing this information to aid everyone’s understanding of capacity in the industry. If you have yet to respond or would like to add your information to update distributors, please contact Daniela Arena today with your information. This will be a resource for BPMA members only. 

 

BPMA Slack Group - Members only 

For those of you already in the Slack group, this is proving a great way to get real time updates and information to everyone - if you’d like to join this group which is open to all members, with separate private groups for Suppliers and Distributors, please contact Tom Robey for information. Invites have already been sent out to members but appreciating we are now all using a multitude of different platforms for remote working, if you need any further explanation or haven’t used this particular free to use on line platform before, please let us know. 

 

Product Media Magazine - going digital

This next issue will now go digital and we’ll keep members updated on the publication date. If you are yet to confirm advertising for this issue or have a question, please get in touch myself and Daniela Arena.

 

Reminder of links for resources: 

  • Job retention scheme including all details as they emerge of claims process, who is covered and how the grant is treated in your balance sheet. We will be updating everyone on these key points on Thursday’s webinar. Croner have also created a section on their site to support members, if you have not already accessed this, we recommend you review. 
  • Companies House filing extension; how to apply for this (as it won’t be automatic but will be automatically approved when you apply) if you want to take advantage of this extension. 
  • Insolvency and wrongful trading update giving companies more time to find solutions for rescue or restructure, including suspension or holding AGM’s on line 
  • Business Loans are now available via the CBIL scheme  more information on who is able to provide them, who is asking for PG’s and more. Tell us if you are experiencing challenges with banks as there have been significant 'teething problems' in the first few days surrounding requirement of personal guarantees; thank you to those who have already shared their experiences. Specific advice for SME’s can be found here on what to expect and how the process works.

Register for the webinar 

This week’s webinar will focus on keeping the wheels turning, dealing with debt collection in particular. We will bring as much information to these forums as possible, picking up with suppliers and distributor groups the urgent discussions needed in these areas. Please register here for this and the following sessions, telling us what you need to hear about when you register.  We will keep these sessions running for as long as needed, increasing frequency as required.

 

Access to last week’s webinar can be found here. If you would like any of the resources such as slides and handouts, these can requested or found in the resource section of the BPMA website which is being updated with information daily. 

 

Preparing for the future

With the stark declaration of ’normal’ being some months away during news briefings over this weekend, the resilient, the entrepreneurs, the innovators and those who will always find a way will be at the forefront of the UK recovery and our industry future.The BPMA is committed to ensuring you have the information you need now and your voice is counted as a critical factor in the UK’s economy and future success.  As we continue to update through various calls and platforms in the coming days, please talk to us about your challenges as they arise so we can help anticipate your needs and key areas of focus.

Posted on Monday, March 30, 2020 12:00 AM