Covid has already cost Britain’s SMEs a combined £126.6billion and the crisis affecting them has been going on for more than 20 months now. Owners’ biggest Christmas challenges will be attracting enough customers (21 percent) and earning enough to keep their operation alive into 2022 (17 percent).
Alan Thomas, CEO of Simply Business, said: “For a third of small businesses, Christmas accounts for over 20 percent of their annual revenue. Many SME owners quite simply need it to be Christmas every day if they’re to recover properly from a devastating two years.
“They’ve faced the pandemic head-on, navigated supply shortages, and adapted to a new normal. They’ve shown resilience in abundance. But without a strong Christmas trading period, one in five small businesses will permanently close in 2022.”