One in seven SME owners using personal savings to keep businesses afloat during pandemic

Industry News | 12/06/20

The coronavirus pandemic is leading small business owners to take drastic steps to keep their companies afloat, according to a new survey, with one in seven small business owners digging into their own pockets to ensure their business survives. Small and medium sized businesses (SMEs) in the UK have come under intense pressure during the Covid-19 crisis, with a recent poll finding that two fifths of small businesses were at risk of shutting down permanently. Some 14 per cent of SMEs owners have used their personal savings for immediate financial support during the pandemic, according to a survey conducted by Opinium for Nucleus Commercial Finance.

Source: CityAM