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Covid-19 and the impact on small businesses

The pain and uncertainty of the impact of the Coronavirus on small business owners is staggering and likely to be substantial. For small business owners the situation is an unmitigated disaster. In fact, it couldn’t be worse. No currency crisis, Gulf war, oil shortage, terrorist attack or banking collapse would come close to the impact this virus is having on our economy - but in particular on our SME sector. And, to think we spent three years preparing for the “enormous, incalculable impact” that would result from Britain’s exit from the EU — a breeze compared to this business wipe-out tsunami.

 

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