Most firms need help

Business bosses have revealed the vast majority of firms have furloughed staff during the coronavirus crisis.

The Business Impact Tracker, which includes members from Renfrewshire Chamber of Commerce, shows a staggering 71 per cent of companies have furloughed employees.

This is up from 66 per cent last week.

Many employers are awaiting funds from the Coronavirus Job Retention S cheme as pay d a y approaches for their workforce.

Firms said cash flow remains a significant concern, with 60 per cent of having less than three months’ cash in reserve.

The business tracker poll surveyed almost 700 companies across the country.

Almost a third said they have furloughed between 75 and 100 per cent of their workforce.

While 28 per cent have furloughed no staff.

British Chamber of Commerce director general Dr Adam Marshall said: “With around 140,000 claims made on the very first day, this is a crunch week for businesses relying on the Job Retention Scheme to pay their staff.

“Our research suggests that over 70 per cent of businesses will be using the furlough scheme in some form, so it’s absolutely crucial that it delivers.

“HMRC’s capacity to deal with the demand from business has been encouraging so far – and their staff working under immense pressure to get it up and running deserve our recognition and thanks.

“It is now critical that payments from the furlough scheme reach businesses as smoothly and as quickly as possible in order to protect jobs and livelihoods.”