News & Insights
Recent statistics from the Office for National Statistics (ONS) has offered promising data that businesses are trying to bounce back post-pandemic.
The statistics confirmed that more than 9 in 10 businesses (93%) were currently trading, up from 89% in July 2021.
This percentage was higher in Wales and Northern Ireland (97%) than it was in England (92%). However, it is worth stating that, of these operational businesses, 17% of Welsh and 11% of English businesses were only partially trading.
Moreover, there has been a noticeable rise in businesses reporting a drop in turnover, even since the middle of the pandemic. Across all of the UK’s single-site currently trading businesses, 31% reported a decrease in turnover since late June 2021.
Conversely, around half reported that they had experienced no impact on turnover and 6% even suggested that they had experienced an increase.
However, according to a new report from Small Business Britain and TSB Bank, 86% of entrepreneurs believe their business will survive this year, despite half admitting that financial stability has taken a hit.
Indeed, two thirds of business owners are also optimistic that they will grow post-pandemic in 2022.
In the ONS report, there was also data detailing where the UK’s population was now working from. They estimated that 29% of UK single-site businesses’ employees were either working from home or using a hybrid model of working in the latter stages of the pandemic in mid-January 2022. Of the countries, England had the highest proportion reported at 32% and Wales had the lowest proportion at 18%.
As expected, London had a much higher estimated proportion (50%) of the workforce working from home or using a hybrid working model, though it is believed that this figure may drop in line with other regions as time passes.