Helen Bogie FCIM CMktr PgDip BA (Hons)
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Owner-managed businesses coming out of the third lockdown are still struggling with the impact of Covid-19 and an uncertain economic outlook, reports our survey.
The survey of 435 businesses conducted by Kreston Reeves and the Association of Practicing Accountants found:
Commenting on the findings Andrew Tate, Partner and Head of Restructuring at Kreston Reeves said: “It is clear from our research that a significant minority of owner managed businesses who have managed to pull through the last 12 months are still in survival mode with uncertain trading conditions being the biggest concern to a majority.
“Nonetheless, there is also evidence to suggest that those businesses that have managed to weather the impact of Covid-19 are now more resilient and that existing and proposed Government support measures have generally been well received.
Nigel Fright, Managing Partner adds: “Over the coming months it is vital that Government maintains a flexible and targeted approach to business support focusing resource on those sectors where there is the greatest need. Owner managed businesses form the backbone of the UK economy and need continued, targeted support as we emerge from this third lockdown.”
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