Another lockdown would be devastating for SME owners

Another lockdown would be devastating for SME owners

Alan Thomas, UK CEO at Simply Business, one of the UK’s largest providers of small business insurance, comments on the Prime Minister Boris Johnson’s winter plan:

“Small business owners will be breathing a sigh of relief knowing the Prime Minister is looking to avoid any further lockdowns.

“Another lockdown would have a devastating impact on small businesses. Half (48%) of all owners live in fear of future restrictions, and thousands would be put out of business – with almost one in six (15%) saying they’d have to cease trading altogether if we were placed into another lockdown.

“Few have been hit harder by the pandemic than SMEs, who have already lost a staggering £126.6 billion. This financial loss is devastating to both the livelihoods and families of small business owners, but it also represents a huge blow to the UK economy – SMEs make up 99% of all UK businesses and contribute trillions of pounds a year in turnover.

“Small businesses are crucial to our collective recovery, and the government must do what they can to support them – avoiding another lockdown will be central to helping the self-employed bounce back.”

For all your business insurance needs visit the Simply Business website

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