GOOD CREDIT PROJECT PUBLISHES NEW GUIDES TO HELP SOUTH YORKSHIRE ORGANISATIONS TACKLE IMPACT OF CORONAVIRUS

Published 4 May 2020 at 9:59am

The impact of Coronavirus is causing uncertainty for all of us, and presenting several new challenges

For businesses and public sector bodies, the financial resilience and wellbeing of their staff and customers are important considerations, but it can be difficult to know where to start with so many pressing issues competing for attention.

Demos, the cross-party think tank, is working with stakeholders across South Yorkshire to help people access fair credit and reduce the need for unaffordable borrowing.

The organisation has put together guidance to help businesses, local authorities and social landlords support their employees during and beyond the pandemic.

Each guide suggests simple yet practical steps that can be quickly implemented to help boost financial resilience in both the short and longer term. Access the full range of guides here.

Dan Jarvis, Mayor of the Sheffield City Region, said: “Loans are essential for most people to go about their daily lives – from the big purchases such as a house, to day-to-day expenditure to get by.

“In these extremely challenging times, people’s financial circumstances may be under more pressure than ever before. However, if they can’t access affordable credit, circumstances may force people to access short-term, high cost credit that is unaffordable, and end up in a cycle of debt from which it is very difficult to break free.

“That’s why this work from Demos is so important, and why I am pleased to support this new guidance, which I hope will be beneficial to communities across South Yorkshire. If this project helps to free our communities from the cycle of bad credit, then it will also be a very welcome contribution to my ambition to tackle inequality, create good jobs and build an inclusive economy.”