The great lesson of 2020 for small businesses is to be ready for anything

small businessesThe repercussions of Covid-19 for the small business community have been particularly ruinous. Recent figures paint a worrying picture, revealing that approximately 76,300 SMEs in London alone ceased operations completely as a direct result of the pandemic, with lockdowns costing from £30,000 to £75,000 for one in ten small businesses. As the most vulnerable business segment in the current crisis, SMEs needed the biggest support and, by the end of April, had already received over £4 billion via the government’s CBIL scheme. More →