SME group urges Cooper to help businesses affected by riots | Business News

Britain’s most influential small business group is calling on the Home Secretary to ensure swift support for SMEs affected by the wave of riots that have swept Britain over the past ten days.

In a letter to Yvette Coopera copy of which was seen by Sky News, the Federation of Small Businesses (FSB) called on it to make it easier for the insurance industry to treat SMEs (small and medium-sized businesses) fairly.

It also seeks coordinated efforts by government, police and crime commissioners to communicate how uninsured small businesses can claim lost profits under the Riot Compensation Act.

Tens of thousands of SMEs saw their trade affected amid violent riots in cities and city centers across the country.

Many business owners have closed stores on main streets in an effort to prevent physical damage to their premises.

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In the letter to the Home Secretary, Martin McTague, national chairman of the FSB, said its members had been on the “front line” of some of the worst riots to hit Britain in decades.

“In addition to supporting the police response, many tried to protect their facilities and were among the first in line the next day to help clean up their businesses, neighborhoods and communities,” he wrote.

“Local authorities, insurance companies and politicians of all stripes, as you will agree, need to be ready to support their small businesses in rebuilding, recovering and recovering.”

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McTague paid particular attention to the insurance industry, which has been accused by many companies of delaying its response to COVID-related payments.

“We will seek government support to ensure that insurance companies treat small business claims with care and attention, and process them quickly.

“We met with representatives from the insurance industry before discussing this point.

“However, if post-riot support is not activated and small businesses are not flagged, many without insurance could be left without any compensation to restart their business.”

McTague cited data showing that approximately 5,000 complaints were made under the Riot (Damages) Act following more limited actions. riots in 2011with almost 10% of them filed by uninsured individuals and companies.

The scale of the final cost remains unclear and will inevitably increase significantly if there is no rapid conclusion to the current wave of unrest.