At peak of the Covid-19 lockdown, small business revenues fell by 27% in the United Kingdom.
Four key themes have emerged so far:
- The trading and border restrictions, needed to tackle the health crisis, had a significant impact on small business.
- Once restrictions were eased small business started to show signs of recovery.
- Government support cushioned the downturn and is aiding the recovery.
- With the right tools some businesses have been able to adapt to new trading environments.
Research report was published by Xero.