Local lockdowns only make the problem of late payment worse

Originally written by paulchristensen on Small Business
Yesterday the government announced a raft of new local lockdown restrictions in Liverpool. These follow on from local lockdowns across the north of the country, and likely precede harsher measures in the next week or so to be imposed on London.
It is clear that the government remains committed to keeping the “R” rate low, and prioritising protecting the NHS’ capacity over any resultant economic harms. That’s its trade off to make – but if it is a trade-off it insists on making, then small businesses need the government’s support more than ever.
These hyper-localised lockdowns have a huge impact on the small business community. For a large number of SMEs, their suppliers and customers are geographically proximate to their base of operations. This means that the viability of their business is tied to the health of the local economy, and, critically, to individuals and businesses producing and buying goods and services.
>See also: HSBC will not accept any more Bounce Back Loan applications
Think about a medium-sized grocer that supplies a number of large corporates in Liverpool. With profits already damaged by the downturn in orders from cruise lines and shipping companies, they are having to extend

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