search
date/time
Lancashire Times
A Voice of the North
frontpagebusinessartscarslifestylefamilytravelsportsscitechnaturefictionwhatson
3:32 PM 26th July 2021
business
Opinion

'Pingdemic' Impact On SMEs

Alan Thomas, UK CEO at Simply Business, comments on the impact of the ‘pingdemic’ to small businesses:

Image by Gerd Altmann
Image by Gerd Altmann
“The ‘pingdemic’ is proving another obstacle for small businesses in their recovery from the impact of Covid-19. The number of staff – and indeed self-employed people – in isolation is a major issue across every industry, and up and down the country we’re seeing businesses temporarily close due to record levels of self-isolation.

“Freedom Day was supposed to be a positive milestone for the self-employed – with businesses finally able to operate at full capacity, or even open for the first time. But many are now finding themselves shutting up shop once again.

“Few have been hit harder by Covid-19 than small businesses and the self-employed. Our research shows SMEs expect to lose £22,461 each on average in lost earnings, equating to a £126.6bn hole in the books of small businesses. With the ‘pingdemic’ in full force, this figure could rise even higher.

“Making up 99% of all UK businesses and contributing trillions of pounds to the UK economy, small businesses are central to our collective recovery. Put simply, we need them to bounce back. It’s important to remember that behind every small business is a small business owner – many of whom have suffered both financially and mentally over the last 18 months. Those same self-employed people will be on tenterhooks once again as they wait to see whether they or their staff get ‘pinged’, and their livelihoods are put back on hold.”