Both Germany and Switzerland delivered schemes to support small and medium- sized enterprises (SMEs) much earlier than the UK.16 Their schemes offered 100% guarantees.17 CBILS, although in place at a similar time, offered an 80% guarantee attempting to remain line with state aid legislation, but unlike other jurisdictions was not suitable for the smallest businesses.18 HM Treasury has not taken advantage of the increased support it can provide to businesses in certain sectors, including 20,000 venues in pubs and hospitality.19 Getting the Scheme up and running