Fifth of small firms expect poor performance in next three months, data suggests

Data published by the Federation of Small Businesses (FSB) has suggested that a fifth of small businesses expect their performance to be 'much worse' over the next three months as a result of the coronavirus (COVID-19) lockdown.

Call 020 7237 2477 or email info@mvoassociates.co.uk

Data published by the Federation of Small Businesses (FSB) has suggested that a fifth of small businesses expect their performance to be 'much worse' over the next three months as a result of the coronavirus (COVID-19) lockdown.

The FSB's latest Small Business Index (SBI) showed that 23% of the 1,400 business owners polled expect their performance to worsen in the upcoming months. However, 42% expect a relative improvement as lockdown restrictions lift.

Meanwhile, 75% said that COVID-19 is still having a negative impact on their confidence levels.

Mike Cherry, National Chairman of the FSB, said: 'There was a lot to welcome in the Chancellor's Summer Statement where efforts to increase job creation and retention are concerned. That said, given so many small firms are already being forced to reduce headcounts, policymakers will need to keep existing interventions under close and continuous review to ensure they are sufficient.

'They should also be conscious that tax increases for small businesses and the self-employed would risk stifling any nascent recovery.'

About our team

MVO Associates is a firm of Chartered Certified Accountants & Tax Advisers based in London offering accounts, taxation and business advisory and support services to a wide range of businesses and individuals.

Learn more

Latest news
Contact Details

Please call:
020 7237 2477

MVO Associates Chartered Certified Accountants & Tax Advisers, 21 Blue Anchor Lane, Bermondsey, London SE16 3UL

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

© 2020 MVO Associates Chartered Certified Accountants & Tax Advisers. All rights reserved.
powered by totalSOLUTION

We use cookies on this website, you can find more information about cookies here.