Another lockdown would be devastating for SME owners
15/09/2021 - Simply Business
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.”
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