Small Businesses

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A new survey of small-to-medium enterprises (SMEs) in the UK has found that the majority expect their trading to improve within the next three months, but many are also worried about renewed restrictions.

Recognise Bank carried out this survey and spoke to 500 SMEs, with 78% of them – which is close to eight out of every 10 – indicating that they are confident their trading situation will get better during the upcoming three months. The scrapping of almost all restrictions related to Covid-19 is the primary reason for this optimism, but the survey also reveals that SMEs remain worried that restrictions might be reintroduced.

In total, 19% of those that participated in the survey – one out of every five SMEs – said that they fear the return of restrictions during the next three months. Among companies operating in the entertainment and leisure markets, the number was higher, at 26%.

While they may not be able to control the situation with Covid-19, SMEs can speak to accountants in Goole or any other part of the country about steps to mitigate any further impact it might have.

Speaking to PR Newswire UK, the Recognise Bank CEO, Jason Oakley, said:

“SMEs have weathered a tough and unpredictable 18 months and while their confidence continues to stay strong, the shadow of Covid remains a constant concern and a risk to their businesses.”

To further emphasise that, the results of the survey also show that 17% of UK SMEs are fearful of a further lockdown being imposed before 2021 ends, due to rising Covid-19 cases.

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