Coronavirus pandemic 'has already cost SMEs £277,000 each', research suggests

Research carried out by online marketplace Fiverr has suggested that the coronavirus (COVID-19) pandemic has already cost UK small and medium-sized enterprises (SMEs) £277,893 each.

Research carried out by online marketplace Fiverr has suggested that the coronavirus (COVID-19) pandemic has already cost UK small and medium-sized enterprises (SMEs) £277,893 each.

The research was collected by polling SME owners in 19 UK cities, and revealed regional differences of opinion. Fiverr found that businesses in London are most positive about flexibility, with 66% appreciating the flexibility of compulsory remote working.

57% of businesses in Bristol stated that they feel more connected to their employees as a result of the COVID-19 lockdown, and 84% of employees have been enjoying closer connections with their family members.

64% of small firms in Newcastle reported feeling underprepared for the crisis, while 29% of UK small businesses plan on increasing flexible working options post-COVID-19.

However, an additional 64% of SMEs expect their revenues to decrease in the coming months as a direct consequence of the pandemic.

ACCA
About our team

Brookwood Accountants is a firm of Chartered Certified Accountants. We aim to provide our clients with a cost effective accountancy solution which adds value to their business.

Learn more

Latest news
Contact Details

Please call:
01926 257 610

Brookwood Accountants Ltd, 158A Parade, Royal Leamington Spa, Warwickshire CV32 4AE

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

© 2020 Brookwood Accountants Ltd. All rights reserved. powered by totalSOLUTION

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