• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home Business and Economics Business

Nearly half of small firms to cut jobs amid Brexit as Covid-19 woes ‘push so many to the brink’

"The overwhelming view of the clients we support is they fear not being able to comply with the myriad of new regulations which could be coming down the line."

Joe Mellor by Joe Mellor
2020-12-09 15:48
in Business
Credit;PA

Credit;PA

FacebookTwitterLinkedinEmailWhatsapp

Almost half of Britain’s 5.9 million small firms expect to cut jobs by the time the furlough scheme ends as they brace for Brexit to compound coronavirus woes, according to a survey.

A report by software company Sage has suggested that 45% of small businesses are planning to make further redundancies before furlough support comes to a close in March – and 20% will axe jobs as soon as this month.

One in three firms surveyed from the retail sector warned over job losses, but this rose to one in two for those in financial services and healthcare.

With the year-end Brexit deadline looming large, the study showed the strain small firms are already under from the coronavirus crisis as more than half – 53% – continue to operate at a loss.

Christmas

Sage is calling for extra support for the small business sector, with Christmas not expected to provide the usual end-of-year boost and Brexit just around the corner.

Its report found 47% expect to see revenues remain the same for December, while more than a fifth – 21% – of the 662 small business leaders polled forecast a decline year-on-year.

In a further sign of the strain the EU withdrawal is placing on the embattled small business sector, a separate report signals that nearly half (47%) fear they will not be able to comply with regulations after Brexit.

RelatedPosts

Turkey doesn’t vote for Xmas: Oil and gas industries reject call for windfall tax

Royal Mail announces huge profits…then signals price hikes as it cuts costs to cope with inflation

McDonald’s to leave Russia as Greenpeace blocks tanker carrying Putin’s diesel to UK

What cost of living crisis? Huge pay packet of Tesco boss revealed

The survey of 1,200 small firms by Harper James Solicitors also found that more than a third (37%) worry over access to cash once Britain leaves the EU and 16% fret about staff recruitment being impacted following the split.

Businesses hate uncertainty

Roby Harper, chief executive of Harper James Solicitors, said: “Businesses hate uncertainty.

“And the overwhelming view of the clients we support is they fear not being able to comply with the myriad of new regulations which could be coming down the line.

“The Government must therefore provide clear and effective advice to ensure businesses can best prepare for another huge challenge – in a year which has seen the pandemic push so many to the brink.”

Related: PMQs 9th Dec: Boris Johnson, of all people, should know that divorce isn’t easy

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

How to Create Your Own Inexpensive Succulent Garden

Covid truthers keep taking a horse dewormer. It’s not going well.

Locked in a room to discover I’m stupid: Lock’d London Review

“Second wave starting to roll across Europe” – Hancock

AJ Abdallat of Beyond Limits Sees AI as the Future of Energy

Football calendar dedicated entirely to Aston Villa & Scotland player unlikely hit this Christmas

Replaced by Seymour Butts? Andrew Neil announces break from GB News

Thunderball Results for Saturday 14 May 2022 Tonight’s winning numbers

Six ways to make your office loo flushed with success

UK runs out of lateral flow test kits – as testing rules change

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.