Click button to open menu

Fifth of small firms expect poor performance in next three months, data suggests

27 Jul 2020

Data published by the Federation of Small Businesses (FSB) has suggested that a fifth of small businesses expect their performance to be 'much worse' over the next three months as a result of the coronavirus (COVID-19) lockdown.

The FSB's latest Small Business Index (SBI) showed that 23% of the 1,400 business owners polled expect their performance to worsen in the upcoming months. However, 42% expect a relative improvement as lockdown restrictions lift.

Meanwhile, 75% said that COVID-19 is still having a negative impact on their confidence levels.

Mike Cherry, National Chairman of the FSB, said: 'There was a lot to welcome in the Chancellor's Summer Statement where efforts to increase job creation and retention are concerned. That said, given so many small firms are already being forced to reduce headcounts, policymakers will need to keep existing interventions under close and continuous review to ensure they are sufficient.

'They should also be conscious that tax increases for small businesses and the self-employed would risk stifling any nascent recovery.'

Registered to carry on audit work in the UK & Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales.

Details about our audit registration can be viewed at www.auditregister.org.uk for the UK and www.cro.ie/auditors for Ireland, under reference number C006856925

ICAEW-member-firm

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2020 Greenaway Chartered Accountants. All rights reserved.

Greenaway Chartered Accountants, 150 High Street, Sevenoaks, Kent TN13 1XE

We use cookies on this website, you can find more information about cookies here.