Support 100 years of independent journalism.

  1. Science & Tech
  2. Coronavirus
7 May 2020updated 06 Oct 2020 9:45am

Nearly a quarter of businesses remaining open have seen their turnovers halve

By Samuel Horti

Nearly a quarter of surviving UK businesses have seen their turnover drop by a half or more because of the coronavirus lockdown.

Across all industries, 23.4 per cent of firms that have remained open reported a drop in turnover of 50 per cent or more, while one in five said their turnover had dropped by between 20 and 50 per cent. 13.7 per cent saying it had dropped by between 0 and 20 per cent.

The figures, from a business impact survey conducted by the Office for National Statistics, do not include businesses that have permanently or temporarily closed as a result of the virus. According to the latest figures, 22.8 per cent of companies across all industries have temporarily ceased trading. That is down slightly on the figure of 24.3 per cent recorded a fortnight ago.

Hotels and restaurants, arts businesses and construction firms remaining open have reported the hardest hits. 57 per cent of businesses in accommodation and food services said their turnover halved, or worse, in the two weeks to 19 April. The same was true of 50.9 per cent of businesses in arts, entertainment and recreation and 45.4 per cent of construction firms.

Select and enter your email address Quick and essential guide to domestic and global politics from the New Statesman's politics team. A weekly newsletter helping you fit together the pieces of the global economic slowdown. The New Statesman’s global affairs newsletter, every Monday and Friday. The best of the New Statesman, delivered to your inbox every weekday morning. The New Statesman’s weekly environment email on the politics, business and culture of the climate and nature crises - in your inbox every Thursday. Our weekly culture newsletter – from books and art to pop culture and memes – sent every Friday. A weekly round-up of some of the best articles featured in the most recent issue of the New Statesman, sent each Saturday. A newsletter showcasing the finest writing from the ideas section and the NS archive, covering political ideas, philosophy, criticism and intellectual history - sent every Wednesday. Sign up to receive information regarding NS events, subscription offers & product updates.
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
THANK YOU

Content from our partners
The cost-of-living crisis is hitting small businesses – Liz Truss must act
How industry is key for net zero
How to ensure net zero brings good growth and green jobs