Submitted on Wednesday 8th April 2020
Rejected on Tuesday 9th June 2020
Current status: Rejected
Rejection code: no-action (see below for details)
An equivalent of CBILS for the startup/scaleup sector where this is not suited
The CBILS scheme is designed for traditional businesses operating in a way to drive profits, the tech sector and other high growth areas are designed to grow fast whilst but efficiently and banks are not set up to deal with that. A change in CBILS or alternative is needed for companies of this type.
The banks are designed to fund businesses who operate in a traditional way, high growth or scale-up companies are not the same and therefore the CBILS scheme, the Government-backed loans are not appropriate. There were 2.1M jobs in tech in 2017 and many will be at risk if no alternative or a change to CBILS is not introduced.
Britains extremely competitive position in tech will be damaged if these companies are not supported in a similar way to other businesses.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
We understand that you want the Government to provide additional financial support to certain businesses, but it's not clear exactly what support you want the Government to provide.
If you want the Government to create a new coronavirus loans or grants to particular businesses you could start a new petition requesting this, but would need to be clear what loans or grants you want the Government to provide, and to which businesses.
We have published a number of petitions calling on the Government to provide financial support to individuals and businesses during the pandemic, which you might like to sign. You can view all open petitions relating to coronavirus here: petition.parliament.uk/petitions?state=open&topic=covid-19
You can find out more about coronavirus and how you can protect yourself and others here:
www.gov.uk/coronavirus
www.nhs.uk/conditions/coronavirus-covid-19/
The Government has also created an online service to help you find out what you can do if you’re struggling because of coronavirus: www.gov.uk/find-coronavirus-support
You can read NHS tips to help if you are worried about coronavirus here: www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips
You can read impartial analysis of the Government response to coronavirus and policy developments here: commonslibrary.parliament.uk/coronavirus/
You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.
Find out more: committees.parliament.uk/work/192/the-governments-response-to-coronavirus/
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