Dish it, Rishi! Sunak asked for extra money as 250,000 businesses face collapse

RISHI SUNAK has been asked to provide extra cash for struggling firms by the head of the Federation of Small Businesses (FSB).

PUBLISHED: 11:54, Mon, Jan 11, 2021 | UPDATED: 11:54, Mon, Jan 11, 2021

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Rishi Sunak urged to offer extra business support by expert

Chairman Mike Cherry urged Chancellor Rishi Sunak to provide the extra support to businesses after his organisation released a report stating 250,000 firms are to go if they do not receive additional funding. Mr Cherry said that support for businesses 'has not matched' increased coronavirus restrictions and labelled the situation facing companies across the UK as "pretty dire." 

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Talking to Sky News following the publication of the FSB's quarterly index survey, Mr Cherry said: "This is pretty dire, it is the worst we have seen the industry since we launched it pretty much a decade ago in 2010 after the financial crisis.

"What we are saying is that business support, especially to those who are not entitled to most of it apart from the furlough scheme, has not matched the increased restrictions that we have seen come in."

He added: "A quarter of those surveyed have decreased the number of employees in their businesses, a further one in seven are looking to continue doing that over the next three months.

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"Nearly half of exporters are looking to see a considerable drop in exports and those who are seeing reduced or forecast reduced profits has spiralled from just over a third to nearly a half." 

FSB CEO Mike Cherry says it's aFSB CEO Mike Cherry says it's a "dire" situation (Image: Sky News)

rishi sunak news coronavirus financial help latestRishi Sunak has been urged to provide businesses with extra help to businesses (Image: PA)

Last week Mr Sunak pledged more handouts to businesses following Boris Johnson’s decision to trigger a third national lockdown across England.

The Chancellor’s latest measures included a £594million emergency fund for councils to support other struggling firms in

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