A recent study from Simply Business showed the impact Covid-19 continues to have on UK SMEs, alongside the wider effects of the current economic climate. The key findings showed:

● Small business owners now face wider challenges while attempting to recover – with 70%
stating rising costs are now their biggest challenge, along with supply shortages also proving
difficult
● 87% of small business owners have lost money over the last two years, averaging £20,981
each in total
● SMEs now say they have lost nearly £21,000 on average, with one in six – totalling almost
one million small business owners believing they will never financially recover
● Over a fifth do not expect to ever return to pre-pandemic levels of trading

● The average cost for #startups in year one alone stands at £22,7562.

£25K can help change someone’s life for the better.

A £25,000 business boost grant has been launched to do just that. To learn more, and enter, visit the Simply Business Business Boost website.

#business #grant #startup

Published: July 19, 2022. Categories: Funding, News and Robert's Blog.