Lockdown sees one in four firms close

The Office for National Statistics (ONS) says Government measures designed to slow the spread of coronavirus has seen a quarter of businesses close down temporarily.

A poll of 5,316 businesses, saw 25% say they had closed between 23rd March and 5th, while 38% of those that continued to trade said that their turnover was substantially lower than normal and 17% said it was slightly lower.

Over 40% said they were reducing staff levels in the short term, while almost 30% have decreased working hours. Just over a third of those surveyed said they had been unaffected by the lockdown.

In the fortnight before the 23rd March 23 lockdown, almost half of firms saw a dip in income, with this rising to 90% for hotels, cafés and restaurants.

5,316 businesses responding to the Business Impact of Coronavirus (COVID-19) Survey. For responding businesses who were still trading, an average of 21% of the workforce had been furloughed (under the terms of the UK government’s Coronavirus Job Retention Scheme) in the period 23 March to 5 April 2020.

The survey results show just over half of adults (53.1%) said the coronavirus (COVID-19) was affecting their well-being.