1 in 10 local shops to close without successful xmas period

A total of 11 per cent of local shops and businesses face permanent closure without a successful Christmas trading period.

A further 14 per cent will need to shut temporarily if they don’t bring in enough money this December, while 15 per cent would need to consider other forms of employment, research by Simply Business has found.

The study reveals that on average local business owners estimate they’ll lose around £2,164 during the festive season, with around 9 per cent expecting to take £3000-£5000 less than usual.

According to the small business insurer, who published the findings this week, the Christmas period usually accounts for 28 per cent of annual takings on average.

69 per cent of those surveyed said they were not confident about the future of their business.

Unsurprisingly, confidence levels worsen in areas where there are stricter tier regulations in place.

“Small business owners have been hit harder than most in this most challenging of years. The impact Covid-19 has had on their livelihoods and wellbeing is huge, and December is shaping up to be another difficult month,” said Alan Thomas, UK chief executive, Simply Business. “For many small businesses, the festive period is crucial to their annual takings – and with the frightening prospect of a quieter-than-usual December, one in 10 are on a cliff edge with permanent closure a real possibility.

“As we’ve seen on countless occasions throughout Covid-19, the self-employed are resilient, resourceful and innovative, and it’s encouraging to see many adapt their offering to help their chances – from offering takeaway services, to building online stores. But it’s clear that these steps can only go so far, and our research shows that success will be heavily linked to local restrictions.”

    Share Story:

Recent Stories

Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.
Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.