At least 250,000 UK small businesses set to fold without further help, new study warns
Industry News | 11/01/21
FSB publishes the findings from its latest Small Business Index study.
• Quarterly Federation of Small Businesses (FSB) Small Business Index (SBI) shows confidence at second lowest ebb in report’s ten-year history.
• One in five firms reduced headcounts in three months to December; one in seven expect to do so this quarter.
• Share expecting profits to fall over next three months hits all-time high, with exporters feeling the strain as new EU-UK trade deal beds in.
A record number of small business owners are planning to close their firms over the coming twelve months, putting the UK on course to lose more than a quarter of a million businesses, according to the latest SBI.
Just under 5% of the 1,400 firms surveyed for the study say they expect to close this year. The figure does not reflect the threat of closure faced by those hoping to survive despite having frozen their operations, reduced headcounts or taken on significant debt.
Source: Federation of Small Businesses
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