As we enter the next phase out of lockdown, new research reveals nearly a third of SME leaders are optimistic about all restrictions lifting on June 21st, however they also fear future lockdowns and the impact this will have on their business.
Despite the UK being on track to lift all social distancing restrictions next month, three in 10 SME leaders are unsure as to whether all measures will be removed by June 21st, while 26% believe that the removal of all restrictions by this date will be delayed.
The research found that smaller businesses are the least optimistic about restrictions lifting. Micro businesses, those with 1-9 employees, are three times more likely to think the removal of restrictions will be delayed compared to medium businesses, with these figures standing at 21% and 7% respectively.
When looking at the lockdown sentiment regionally, those in the South West and London are most fearful of future lockdowns, standing at 44% and 38% respectively, compared to just 23% in the North West.
Chirag Shah, CEO, Nucleus Commercial Finance comments: “After more than a year of lockdowns impacting their ability to open their doors, or in some cases even survive, it’s hardly surprising that SME owners are still worried about what the future holds. Despite level two restrictions being lifted this week, there is still a sense of uncertainty about whether life will return to ‘normal’ next month. However, it is important for business owners to remember that they have shown extraordinary levels of resilience over the past 12 months and that there is light at the end of the tunnel.
“Moving forward, government and industry must work together to raise awareness of the various support measures available, and reassure business owners of the help at hand. These solutions can be tailored to business’ specific needs and delivered at speed to help them not only survive, but thrive in the pandemic and beyond.”