Craft Focus - April/May 2020 (Issue 78)

10 The Retail Mutual offers support to independent businesses in light of Coronavirus In the latest Budget on March 11 th , the Chancellor, Rishi Sunak, warned that up to 20 per cent of the UK’s workforce could be off at any one time due to COVID-19 (coronavirus), which will disrupt businesses and consumer cashflow. In response to this, the Chancellor announced a £7 billion support package for small businesses including tax cuts, loans and grants, and a coronavirus business interruption loan scheme. Specialist cover provider for independent businesses, The Retail Mutual, has also responded by offering support and clarity to its Members in the event that their businesses should be impacted by the coronavirus. Mutual manager of The Retail Mutual, Kirsty Hampton, said: “Retail and hospitality businesses are paramount to the UK economy, and the coronavirus is likely to hit the smallest independents hardest. “If a Retail Mutual Member’s premises are closed by local authorities due to staff being taken ill with the coronavirus, or if their premises face closure due to suspected contact with the virus and require a deep clean, they may be covered. As a discretionary mutual, we can support independent businesses at this time and are able to consider claims beyond the standard scope of cover. “The Chancellor’s announcements following yesterdays’ Budget from the government, including the coronavirus business interruption loan scheme and business rate cuts, will have a significant impact on the resilience of independent businesses during this uncertain period for the UK economy.” For further information, contact theretailmutual.com Contactless payments threshold increased to £45 In an attempt to slow the spread of COVID-19 a number of payment providers have increased the threshold for contactless payments from £30 to £45. This decision to increase the limit was taken to help customers avoid making unnecessary contact with the keypad and cashier at checkouts, and to prevent the handling of cash which is likely to carry viruses and bacteria. However, in today’s retail landscape, retail technology can provide the answer for hygiene and convenience concerns currently facing shoppers and retailers alike. Ubamarket is one such example of retail technology, whose mobile app and “Scan, Pay, Go!” technology allows customers to scan products as they shop, be guided around the store with a supermarket sat- nav, and completely bypass the tills and queues by paying for their shopping in-app. The usage of this app drastically reduces the amount of time spent in-store for customers, but still allows them to effectively purchase all goods and avoid any potentially dangerous contact at the tills, whilst enabling retailers to cater to more customers and better assess the consumer demand for all products. Will Broome, CEO of Ubamarket, comments on the increase of the contactless limit and discusses the need for retail technology, both in the current climate brought about by COVID-19 and the future of retail: “Retail tech such as Ubamarket will help supermarkets to do just that, by doing away with the need for time-consuming queues, unhygienic checkouts, complicated store layouts and confusion about where products are and whether they are in stock.” For further information, contact: ubamarket.com