Navigating the new normal

Coronavirus and the Impact Economy: what do you need to know?


All content on this page is correct as of May 27, 2020

In this week’s roundup, we examine how the evolving coronavirus pandemic is affecting the impact economy. We take a look at some key considerations for purposeful businesses and recipients of social investment, the duties of B Corporation directors, and operating with values and purpose.

Webinars

If you’re an impact-driven organisation, your approach during this challenging time is going to be influenced by the need to sustain your operations, in ways that accord with your values and purpose. With this in mind, we produced a webinar which looked at a number of key areas and provided updates on the latest developments you need to know. If you missed this webinar, you can click here to register for a recording and slides now.


Solvency considerations for purposeful business

If you’re a social enterprise, a B Corporation or another profit-with-purpose business and you have concerns about the solvency of your business through the coronavirus crisis, we’ve prepared a must-read guide for you. Lenders to such businesses may also find it useful. Click here for more.


Key considerations for restructuring Social Investment transactions during the COVID-19 crisis

The world is still reeling from shock as COVID-19 has spread at astonishing speed with far reaching social and economic impact. With the value of the UK social investment market estimated at over £3.5bn, the approach taken by social investors to defaulting social investments will have a profound impact on the charity and social enterprise sector. We have taken a look at the various ways in which borrowers and lenders might adjust their terms in order to manage their investments and preserve their social impact objectives during the crisis. Click here for more.


Directors’ duties for B Corporations: A Coronavirus Guide

During the coronavirus crisis, the directors of certified B Corporation companies will want to be sure they are complying with their duties. If this relates to you and you want to make sure you’re operating in line with your duties, then we are here to help! We’ve produced a quick guide which aims to help you to do so. Click here for more.


Could a ‘hardship fund’ help provide critical support to your employees during the current crisis?

As the impact of the coronavirus worsens, many people are facing increased financial hardship and are at risk of falling into, or have already fallen into, poverty. We have recently received a number of enquiries from individuals, companies and charities asking how they might be able to support employees and former employees in financial need, as well as others who are facing dire financial circumstances. While it is heartening to see the scale of the Government’s intervention, it is unlikely to be sufficient in preventing some individuals from falling into financial hardship or poverty. We recently shared our views on how businesses can use hardship funds to help provide support to employees, if you missed it then click here to find out more.


Coronavirus: New approaches to procurement and contracting from the Cabinet Office

The government has issued two Procurement Policy Notes as part of their response to the ramifications of COVID-19. Whilst they are relevant primarily for those providing goods, works and services to government, there are perhaps lessons for businesses more generally in terms of engagement with their supply chains and value circles. We explored this further in a recent update, click here to find out more.


COVID-19 and EU State Aid: The Coronavirus Business Interruption Loan Scheme

Our team has recently produced a short article looking at the Coronavirus Business Interruption Loan Scheme, and how this has been approved under the rules on EU State Aid. Whether you work for a commercial business, a social enterprise or a charity, we’d be happy to help you consider how State Aid and the wider rules on competition law could affect you, or provide assistance, during this difficult period. Click here to find out more.


This information is necessarily of a general nature and doesn’t constitute legal advice. This is not a substitute for formal legal advice, given in the context of full information under an engagement with Bates Wells.

All content on this page is correct as of May 27, 2020.

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