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Key business statistics as pandemic restrictions ease

21st February 2022

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.

Particularly in the areas where these figures are high, many fear that a more permanent shift to remote or hybrid working could severely impact infrastructure, high streets and town centres.

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