Businesses the have acted the cnut during the Coronavirus Outbreak

[quit yo jibbajabba]

Are ye going round fb asking ones to take down also Bannside as ive seen it on there a right bit or are you saving all your ire for poor Franko 😉

[bannside]

I'm not a spokesman for Creagh but surely you cant put stuff out there of a serious nature like this until at least its accuracy can be verified. Ive heard bad reports about a few other companies, from a decent source, but couldn't put it on here because I dont know for definite.

I dont spend any time on Facebook...except the club or county facebook pages. You can get addicted to that thing!

[trailer]

We've about 2 months cash reserves. Then after that we're done. Businesses have so many fixed costs, rent, insurance, vehicles etc. We'll be fit to pay wages and what's owed to creditors but without sales it's mission impossible unfortunately. The government wants us to borrow to stay afloat. That's all well and good but will things go back to normal in 3 weeks? 3 months? 12 months? It's a huge risk.

[Franko]

I'm not a spokesman for Creagh but surely you cant put stuff out there of a serious nature like this until at least its accuracy can be verified. Ive heard bad reports about a few other companies, from a decent source, but couldn't put it on here because I dont know for definite.

I dont spend any time on Facebook...except the club or county facebook pages. You can get addicted to that thing!

You sure as hell sound like one.

There were plenty of posts about Randox supposedly charging £120 for a £10 test.  Again, all unverified.

Did you jump in to defend them?

Do Randox not deserve the same support from you as Creagh?

[Milltown Row2]

I'm not a spokesman for Creagh but surely you cant put stuff out there of a serious nature like this until at least its accuracy can be verified. Ive heard bad reports about a few other companies, from a decent source, but couldn't put it on here because I dont know for definite.

I dont spend any time on Facebook...except the club or county facebook pages. You can get addicted to that thing!

You sure as hell sound like one.

There were plenty of posts about Randox supposedly charging £120 for a £10 test.  Again, all unverified.

Did you jump in to defend them?

Do Randox not deserve the same support from you as Creagh?

Randox selling test kits for £120 that are £10 to actually make it sounds about right for those types of companies, that's profit. They probably make more money off producing other kits but because there is a need for something its highlighted more.

Pharma companies make the most money, that's why the likes of Randox could sponsor the Grand National these last few yearsat the tune of over 20 million.

[grounded]

Guys i run/ran a small business in town, things where going nicely up to this virus. Now we're closed, I opened the ice-cream parlour and coffee shop for my wife to run as her and her sister had previously ran their fathers shop (no longer opened from he passed away) so they know what they're doing. TBH i get a few quid out of it for doing very little but it's a job for my wife and her sister along with another five people. Now the shop is closed and with not much money in the bank as the shop is still in it's first year, my Landlord will not accept my phone calls so i can try and arrange an agreement to try and get through this mess but no joy there. I have a few direct debits that come out along with the wages. If i get a freeze on the direct debits and the Government pay me back the 80% for the wages i'll be fine but if they don't and the other direct debits don't play ball with me then it game over...Simple as that.

Other alternative is to let them all go and stop my direct debits and hope this blows over quick and try and repair a few broken relationships (not my preferred choice).

https://www.nibusinessinfo.co.uk/campaign/coronavirus-updates-support-your-business

I'm sure you've looked at the site above. Are you entitled to the business support grant scheme?
       I'm in a similar position to yourself. Small business 3 employees. Work has ground to a halt so zero cashflow. 
       Unfortunately i dont qualify for the 80% employee retention scheme. I Have managed to keep everybody employed and on their full salary, through having some cash reserves and an overdraft facility.
      I have approached my bank re a loan but those that i have approached(to date) do not want an unsecured loan and are asking for my home as security for the loan. Needless to say that is very concerning for my family.
      I have a busineess interruption insurance but believe it or not closure due to a world wide pandemic doesnt qualify me. 
       I have looked at other ways to reduce costs in the mean time including a freeze on my professional indemnity payments and  obviously material/ supplier costs, electricity/heating etc.
        I'm praying that i qualify for that business support grant to tide me through and that this disaster abates.
         Weirdly just before this crisis our biggest conundrum in work was sorting and scheduling out holidays between our staff!
           I wish you well and hope things pan out for you.

[Franko]

I'm not a spokesman for Creagh but surely you cant put stuff out there of a serious nature like this until at least its accuracy can be verified. Ive heard bad reports about a few other companies, from a decent source, but couldn't put it on here because I dont know for definite.

I dont spend any time on Facebook...except the club or county facebook pages. You can get addicted to that thing!

You sure as hell sound like one.

There were plenty of posts about Randox supposedly charging £120 for a £10 test.  Again, all unverified.

Did you jump in to defend them?

Do Randox not deserve the same support from you as Creagh?

Randox selling test kits for £120 that are £10 to actually make it sounds about right for those types of companies, that's profit. They probably make more money off producing other kits but because there is a need for something its highlighted more.

Pharma companies make the most money, that's why the likes of Randox could sponsor the Grand National these last few yearsat the tune of over 20 million.

Thanks for that, but that wasn't the accusation being levelled at them in this regard.

It was they forced you to buy a £120 test 'bundle' which tested for various things (unnecessarily in this case), in order to get the £10 part which covered Covid-19.

Again, totally unverified.

And let pass without comment by even the most righteous of posters.

[Milltown Row2]

No one is forced to do anything.

[Franko]

No one is forced to do anything.

I take it you missed the "in order to get the £10 part which covered Covid-19" part.

It's OK, we're all under pressure at the minute.

[Milltown Row2]

No one is forced to do anything.

I take it you missed the "in order to get the £10 part which covered Covid-19" part.

It's OK, we're all under pressure at the minute.

Pressure to fill my day!

[delgany]

The £120 for 10 various kits , including one for covid 19 was stated by a randox company spokesperson on Radio Ulster, last week.

[north_antrim_hound]

Guys i run/ran a small business in town, things where going nicely up to this virus. Now we're closed, I opened the ice-cream parlour and coffee shop for my wife to run as her and her sister had previously ran their fathers shop (no longer opened from he passed away) so they know what they're doing. TBH i get a few quid out of it for doing very little but it's a job for my wife and her sister along with another five people. Now the shop is closed and with not much money in the bank as the shop is still in it's first year, my Landlord will not accept my phone calls so i can try and arrange an agreement to try and get through this mess but no joy there. I have a few direct debits that come out along with the wages. If i get a freeze on the direct debits and the Government pay me back the 80% for the wages i'll be fine but if they don't and the other direct debits don't play ball with me then it game over...Simple as that.

Other alternative is to let them all go and stop my direct debits and hope this blows over quick and try and repair a few broken relationships (not my preferred choice).

I know this won't help your situation, and i hope you can get sorted out someway with as little damage as possible - it's more to mention the David McWilliams Podcast.

I don't know the technical ins and outs of economics, but he was basically saying that the current method isn't working of ECB lending to banks in a form of quantitive easing, who then want to lend to people and business.  He reckons the money should be given directly to businesses or even people's bank accounts, to avoid job losses as the human effect of the job losses etc can't be quantified - and that essentially the money can be paid for at a negative percentage.

He's worth a listen, and it's generally appealing and well explained without going too deep into fancy economic terms.

Good luck illdecide!

quantitive easing was never initiated  to save the man on the street, its to save the commercial banks and the city.

[TabClear]

Guys i run/ran a small business in town, things where going nicely up to this virus. Now we're closed, I opened the ice-cream parlour and coffee shop for my wife to run as her and her sister had previously ran their fathers shop (no longer opened from he passed away) so they know what they're doing. TBH i get a few quid out of it for doing very little but it's a job for my wife and her sister along with another five people. Now the shop is closed and with not much money in the bank as the shop is still in it's first year, my Landlord will not accept my phone calls so i can try and arrange an agreement to try and get through this mess but no joy there. I have a few direct debits that come out along with the wages. If i get a freeze on the direct debits and the Government pay me back the 80% for the wages i'll be fine but if they don't and the other direct debits don't play ball with me then it game over...Simple as that.

Other alternative is to let them all go and stop my direct debits and hope this blows over quick and try and repair a few broken relationships (not my preferred choice).

https://www.nibusinessinfo.co.uk/campaign/coronavirus-updates-support-your-business

I'm sure you've looked at the site above. Are you entitled to the business support grant scheme?
       I'm in a similar position to yourself. Small business 3 employees. Work has ground to a halt so zero cashflow. 
       Unfortunately i dont qualify for the 80% employee retention scheme. I Have managed to keep everybody employed and on their full salary, through having some cash reserves and an overdraft facility.
      I have approached my bank re a loan but those that i have approached(to date) do not want an unsecured loan and are asking for my home as security for the loan. Needless to say that is very concerning for my family.
      I have a busineess interruption insurance but believe it or not closure due to a world wide pandemic doesnt qualify me. 
       I have looked at other ways to reduce costs in the mean time including a freeze on my professional indemnity payments and  obviously material/ supplier costs, electricity/heating etc.
        I'm praying that i qualify for that business support grant to tide me through and that this disaster abates.
         Weirdly just before this crisis our biggest conundrum in work was sorting and scheduling out holidays between our staff!
           I wish you well and hope things pan out for you.

Grounded, did you approach the bank under the Covid 19 loan scheme or as a "normal" facility?
https://www.nibusinessinfo.co.uk/sites/default/files/British-Business-Bank-CBILS-FAQs-for-SMEs-FINAL_0.pdf

They cant ask you for your home as security but possibly can refuse to lend on "commercial" grounds.

[grounded]

I assumed it was covid 19 loan scheme as i asked them about it. Perhaps i was corralled into one of their own existing business loan packages?
    I shall ask again and specifcally state covid 19 government loan scheme. Thank you for the advice

[Mikhail Prokhorov]

We've about 2 months cash reserves. Then after that we're done. Businesses have so many fixed costs, rent, insurance, vehicles etc. We'll be fit to pay wages and what's owed to creditors but without sales it's mission impossible unfortunately. The government wants us to borrow to stay afloat. That's all well and good but will things go back to normal in 3 weeks? 3 months? 12 months? It's a huge risk.

risk management is what business is all about imo, that's the decision you have to make and i hope it works out. at least you have 2 months leeway, some companies seem to be operating with no cash reserve which seems like very poor practice. while not a business, i have enough cash to pay my mortgage and bills for a year, which gives some breathing room should i lose my job or worse. personal responsibility comes into this crisis as well and while it sounds harsh, living month to month is simply not viable, i know plenty of people with v well paid jobs and no savings, madness