business Coronavirus

Call for action as SME cash crunch beckons

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There was a rare piece of positive business news in recent days amid the relentlessly gloomy financial and economic headlines of late.

New figures from Deloitte revealed that corporate insolvencies had fallen by almost a fifth in the first three months of this year.

159 companies were declared insolvent in the period, a drop of 18% on the same period last year. That's been a consistent and welcome trend as we move further away from the 2008 financial crisis.

The problem is that we now look to be moving headlong into a new crisis of perhaps even bigger proportions, with a potential upsurge in corporate distress, a point noted by Deloitte. "It's arguable that the current crisis has created the most significant challenge for otherwise viable

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