TNB News Uncategorised

Supportive measures for UK automotive

01 October 2020 #TNB News #Uncategorised

There are some in the supply chain who face an uncertain future. To support them, SMMT has developed our Safe Harbour scheme, designed to help suppliers and other businesses across the entire automotive sector that have been impacted by COVID-19 and who may be at risk of insolvency.

The scheme works by bringing key stakeholders and customers together to develop and agree an action plan. That plan could include a range of measures such as adjusting payment terms for that common supplier if they are experiencing cash flow issues, as well as other measures which ultimately will enable the continuity of business.

If you would like further information, please complete the enquiry form which is on our website or email us with questions.

As well as materials, our industry is built on cultivating top talent and developing the next generation is crucial for long-term growth and success.

This is why we’ve launched our second initiative, designed to help safeguard the jobs of apprentices currently working in the sector. Funded through our charitable trust and aimed at SMEs, the SMMT Apprentice Support Programme earmarks £100,000 to provide a stipend towards the salaries of apprentices whose positions are at risk of redundancy due to Covid-19 related business pressures.

If you are interested, then please apply by October 16.

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