Small Businesses

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New research by Barclaycard Payments has found that two thirds of English small and medium-sized enterprises (SMEs) felt that they were ready to cope with the second lockdown compared with the first.

This study reveals that, when it comes to small business owners, 36% felt mentally ready for the challenges of lockdown, 32% took steps to strengthen their companies ahead of it and 14% stated that the support offered by the government was better this time around. Overall, the SMEs that took part in the survey said that they felt better prepared for the restrictions that have come with the second lockdown.

These include the requirement for shops deemed to be non-essential to close again, along with pubs, cafes and other hospitality venues across England. Almost 50% of the small firms that Barclaycard Payments surveyed indicated that they have worked on improving their e-commerce options since the first lockdown to take advantage of the rise in online shopping that the pandemic has led to.

Around two thirds (67%) of SMEs stated that they had enjoyed a boost as a result of making their business websites better, while 66% had increased the number of products and services they had available online and 64% had spent more on online advertising.

Konrad Kelling from Barclaycard Payments said that it was encouraging for the economy that so many SMEs had taken on board the lessons from the initial lockdown and prepared themselves for future issues. Hiring a business accountant from South Yorkshire or anywhere else is another useful step SMEs can take.

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