LONDON: One-fourth of British businesses this year are facing bankruptcy without much state support between the Corona virus and post-Brexit trade, the study found on Monday.
“A large number of small business owners plan to close their firms in the next 12 months, costing the UK more than a quarter of a million businesses.” Their results
The FSB, meanwhile, said the UK’s financial support measures in response to Cowed-19 were “not consistent” with tightening lockdown sanctions. It added in its study that exporters were “feeling the strain as a new EU-UK trade agreement” following the UK’s recent expulsion from the EU’s sole market and customs union.
Mike Cherry, national chairman of the FSB, called on the UK government to show how emergency loan facilities can help small businesses survive.