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

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.'

Home | Accreditation | Contact us | Help | Disclaimer | Site map | Accessibility | powered by totalSOLUTION

© 2021 Whitakers (South West) Limited. All rights reserved. We use cookies on this website, you can find more information about cookies here. Whitakers (South West) Limited trading as Whitakers. Registered Office: Bryndon House, 5/7 Berry Road, Newquay, Cornwall TR7 1AD . Registered company number: 08413422 A member of the ICAEW Practice Assurance Scheme and SWAT UK.