A large number of companies are in danger of running out of money within weeks, according to a survey by the British Chambers of Commerce.

The survey found 62% of companies polled late last month said that they had enough cash to keep them going for the next three months only.

Around a fifth said that they had sufficient capital to cover their outlay for a month and 6% said that they had enough in reserve to sustain them for more than a year.

The Covid-19 Business Impact Tracker polled more than 600 businesses between March 25 and 27.

It found that companies were planning to put large numbers of workers on furlough after the government guaranteed that the taxpayer would pay 80% of staff salaries up to £2,500 a month.

Almost a third are planning to furlough between 75% and all of their employees.

With much of the nation in lockdown, 18% said that they had temporarily closed their operations.

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