Source: Office for National Statistics – Business Impact of Coronavirus (COVID-19) Survey
Early experimental data on the impact of the coronavirus (COVID-19) on the UK economy and society. These faster indicators are created using rapid response surveys, novel data sources and experimental methods.
This is the latest release by the Office of National Statistics.
The Business Impact of COVID-19 Survey (BICS) is voluntary and currently unweighted, so it may only reflect the characteristics of those who responded. Results presented are experimental. The online price change for high-demand products (HDPs) has been ceased and will therefore no longer be included.
This section includes initial results from Wave 12 of the Business Impact of Coronavirus (COVID-19) Survey (BICS) for the period 10 August to 23 August 2020, which closes on 6 September 2020. Of 23,904 businesses sampled, 15% had responded as of 1 September.
Figure 1: 11% of the workforce remain on furlough leave, with 62% of furloughed employees receiving top ups to their pay
Headline indicators from the Business Impact of Coronavirus (COVID-19) Survey, UK, 10 to 23 August 2020
Source: Office for National Statistics – Business Impact of Coronavirus (COVID-19) Survey
All percentages are a proportion of the number of businesses that responded apart from the workforce percentages on furlough leave and receiving pay top-ups, which are proportions of employees for each responding business.
Of all responding businesses:
Of businesses that had not permanently ceased trading, over half (54%) said that they were owed outstanding invoice payments as a result of the coronavirus pandemic. Further, 1 in 10 also said that they were at a moderate or severe risk of insolvency, at 9% and 1% respectively. 48% said they were at a low risk of insolvency, 31% said they had no risk, while 11% were not sure.
Table 1 shows the financial performance of businesses currently trading.
Table 1: Just under half (47%) of currently trading businesses reported that their turnover had decreased below what is normally expected for this time of year Percentage of businesses currently trading, UK, 10 to 23 August 2020 |
|
Turnover has increased by more than 50% | 1% |
Turnover has increased between 20% and 50% | 4% |
Turnover has increased by up to 20% | 9% |
Turnover has not been affected | 34% |
Turnover has decreased by up to 20% | 22% |
Turnover has decreased between 20% and 50% | 16% |
Turnover has decreased by more than 50% | 9% |
Not sure | 6% |
Source: Office for National Statistics – Business Impact of Coronavirus (COVID-19) Survey
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