Business Impact of COVID-19 – ONS’s Survey

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ONS held a survey on Business Impact of COVID-19 Survey for the period 23 March to 5 April 2020. Respondents were asked to respond to the questions between 6 April and 12 April 2020. The questions were based on their experiences from 23 March to 5 April 2020.

Office for National Statistics (ONS) has revealed that a quarter of UK businesses have temporarily suspended trading as a result of the coronavirus (COVID-19) lockdown.

 

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Businesses that had temporarily closed or paused trading

The ONS’s Business Impact of Coronavirus Survey found that, of the 5,316 businesses that responded for the period 23 March to 5 April 2020, 25% stated that they have temporarily closed or paused trading while the lockdown continues. 75% of firms are continuing to trade, according to the survey.

 

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Businesses that are continuing to trade

38% reported that their turnover was substantially lower than their normal range, Business Impact of Covid-19 Survey reveals.

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Initial survey results show, of the businesses who had responded and were continuing trading, approximately:

  • 38% reported that their turnover was substantially lower than their normal range
  • 3% reported their turnover was substantially higher than their normal range
  • 5% reported that while Covid-19 had effected their turnover, it was still within their normal range

Of the businesses, 99% attributed their abnormal turnover to the coronavirus (COVID-19).

‘It’s never been more important, or more appreciated, that businesses and individuals give their time to tell us about their experiences,’ said Iain Bell, Deputy National Statistician at the ONS.

‘The information from these surveys is providing vital insight to the UK government into how people are responding to, and feeling about, the current situation, including their anxieties and measures that are helping them to cope.’

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