It’s not the end of the road

As we approach the twelve-month mark since COVID-19 ripped its way through the world as we once knew, its important to remember It’s not the end of the road.

The numbers are worrying

According to the latest SBI (Small Business Index) survey it is expected to see a record number of small businesses ‘shut shop’.

Over the course of the next 12 months, more than quarter of a million businesses will close their doors.

No-doubt increasing the unemployment numbers, something that as a nation we have worked so hard to reduce.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/923565/2020_Business_Population_Estimates_for_the_UK_and_regions_Statistical_Release.pdf

It is anticipated that a large number of small business owners will attempt to keep trading despite closed businesses, reduction in staff members and having taken on large creditor commitments.

It is also expected that the impact of continuing to trade a ‘struggling businesses’ will have server impacts on mental health.

According to the Department of Business, Energy and Industrial Strategy (BEIS) there are 5.9 million small firms across the UK.

It is estimated that 16.8 million people work for small businesses. It is therefore alarming to see the statistics gathered by the FSB (Federation of Small Businesses).

https://www.fsb.org.uk/resources-page/at-least-250-000-uk-small-businesses-set-to-fold-without-further-help-new-study-warns.html

£1,401.00 small firms took part in a survey for the fourth quarter of 2020.

  • Based on the statistics from the last quarter, almost 23% (close to a quarter) of small businesses have reduced on staff members.
  • Rising from 13% compared to the numbers at the start of last year – 10% rise
  • One is seven small businesses say they’ll be expected to cut staff numbers down further – That’s 14% of small businesses

It’s not the end of the road

You have worked for many years on your business. Put blood sweet and tears into building it. Studied for many years to perfect your craft; you have a family to support.

Whatever your story, to lose your business is utterly heart-breaking.

We are here to tell you, It’s not the end of the road

COVID-19 sure has floored us as a nation and you may be thinking,

“I haven’t got the strength to start again”. We are here for you.

“Can I open a new company if I lose this one?” In short, yes you can.

“How do I close my company and start again?”. Contact us, we are here to help you.

“Is there any help in restarting my company?”. Yes, we have a full business team on hand t ensure your future success.

We are here to tell you “it’s not the end of the road, it’s just a bump in the road”, and there is a way forward.

About Company Money Worries

Company Money Worries is not your average Company Debt Support service!

We are a Company that is not only passionate about supporting you with your struggling business. Our teams thrive on seeing our directors ‘start again’ and flourish; flourish with all the guidance and support needed.

Company Money Worries provides a support service with restructuring your old company.

The service also provides access to business consultants, accountants, marketing teams and HR services; all in an attempt to ensure your future success.

We don’t just want to support you through your struggles, we want to be there with you; to celebrate your successes!

Author Natasha Parrott – Co Founder

https://companymoneyworries.co.uk/team-member/natasha/#aside_scroll

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