SME Group Calls for Help for Businesses Hit by Riots
- The Federation of Small Businesses is urging the home secretary to provide assistance to businesses affected by riots.
- They demand fair treatment from the insurance industry for their members.
- The plea comes in the wake of ongoing concerns about the economic impact on small businesses.
Britain's leading small business organization, the Federation of Small Businesses (FSB), is urging Home Secretary Yvette Cooper to expedite assistance for small and medium-sized enterprises (SMEs) impacted by recent riots across the country. In a letter addressed to Cooper, FSB National Chairman Martin McTague emphasized the need for fair treatment of SMEs by the insurance industry, highlighting the critical role these businesses play in their communities during times of crisis. McTague noted that many FSB members have been directly affected by the unrest, describing them as being on the "front line" of the disturbances. He praised their efforts to support police responses and their commitment to cleaning up and restoring their neighborhoods in the aftermath of the violence. The FSB is calling for local authorities, insurance companies, and politicians to collaborate in providing the necessary support for these businesses to recover and rebuild. The letter also criticized the insurance industry for its slow response to claims related to the COVID-19 pandemic, urging the government to ensure that insurance companies handle small business claims with the urgency and care they deserve. McTague referenced historical data, noting that around 5,000 claims were filed under the Riot (Damages) Act following the 2011 riots, with a significant portion coming from individuals and businesses lacking insurance. The FSB's appeal underscores the pressing need for a coordinated response to support SMEs as they navigate the challenges posed by the recent civil unrest.