600,000 small firms on the brink as Covid restrictions bite
Sharp rise in companies in significant financial distress at end of 2020 as business leaders urge Chancellor to take further action
27 January 2021 • 6:00am
More than 600,000 small businesses are on the brink as the return of tough Covid restrictions threatens to trigger a cascade of collapses, new figures show.
The second wave caused a sharp acceleration in the number of businesses deemed in “significant financial distress” at the end of 2020 as industry leaders called on the Chancellor to take action at the Budget.
Data from Begbies Traynor s Real Business Rescue pointed to a near 80,000 rise in firms in distress in the fourth quarter of 2020, a 15pc jump and a large share of the total 118,000 increase since the pandemic struck.
Call for support from government and agencies as survey highlights immense pressure on small firms By Alan Hendry Published: 07:25, 27 January 2021
Get the Courier and Groat sent to your inbox every week and swipe through an exact replica of the day s newspaper
David Richardson says the survival and recovery of all-important small businesses should be at the top of the agenda.
A new survey has revealed the impact Covid-19 is having on Highland businesses, with a fifth of them fearing they will not reopen after the pandemic.
The findings from the Federation of Small Businesses (FSB) set out in stark detail many of the issues facing owners, from worries over their viability to concerns over their mental health.
Stuart Patrick, Glasgow Chamber of Commerce Chief Exec-JS There was a moment last week when I could sense that the resilience of many in the business community was faltering. Announcements from government that there would be no early respite from pandemic lockdowns was not especially surprising given the appalling case and fatality statistics. The additional blow however was the reluctance of either government to even offer hope of relief. Leaked comments by National Clinical Director Jason Leitch to health sector leaders that he wouldn’t advise any foreign trips this side of 2022 suggested that inside government there is a much bleaker view of our prospects this year than had hitherto been publicly discussed.
Britain s jobless rate soars to five-year high thisismoney.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisismoney.co.uk Daily Mail and Mail on Sunday newspapers.