£100K Funding Boost for Scaffold Industry
Ricki Grenfell, owner of the leading scaffolding company in the United Kingdom, RG Scaffolding, has announced that the scaffold industry has secured a £100K Funding boost in bid to support and save jobs following the coronavirus lockdown.
The Birmingham-based Scaffolding company has said that each company will receive £100k funding boost from Business Loans via West Midlands Engine Investment Fund, which is supported by the coronavirus business interruption scheme.
Like many businesses, the UK lockdown proved to be a challenging time for the scaffolding industry – then the Government announced plans to reopen construction sites with safety measures in place, such as Social Distancing and hand sanitiser stations around the site. However, some scaffolding projects were put on hold or postponed which seriously affected the cashflow.
Ricki Grenfell had this to say: “Securing a funding boost at this time was an important step in helping us manage our cash flow during the period of interruption caused by the coronavirus. We expect business operations to start returning to normal soon, as lockdown measures are eased further and more construction sites re-open.”
Each scaffold company have been communicating regularly with customers and suppliers and envisage that demand for scaffolding will be similar to pre-lockdown levels, as scaffolding continues to fulfil pre-existing contracts and work on other construction sites resumes.