News
Quarter of UK businesses temporarily suspended trading
A survey carried out by the Office for National Statistics (ONS) has revealed that a quarter of UK businesses have temporarily suspended trading as a result of the coronavirus (COVID-19) lockdown.
The ONS’s Business Impact of Coronavirus Survey found that, of the 5,316 businesses that responded for the period 23 March to 5 April 2020, 25% stated that they have temporarily closed or suspended trading while the lockdown continues. 75% of firms are continuing to trade, according to the survey.
Of responding businesses that are continuing to trade, 38% reported that their turnover has been ‘substantially lower than normal’.
‘It’s never been more important, or more appreciated, that businesses and individuals give their time to tell us about their experiences,’ said Iain Bell, Deputy National Statistician at the ONS.
‘The information from these surveys is providing vital insight to the UK government into how people are responding to, and feeling about, the current situation, including their anxieties and measures that are helping them to cope.’
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