{"id":195,"date":"2020-07-13T14:42:00","date_gmt":"2020-07-13T14:42:00","guid":{"rendered":"https:\/\/www.simplybusiness.co.uk\/about-us\/press-releases\/hair-beauty-industry-at-risk\/"},"modified":"2025-12-17T15:05:58","modified_gmt":"2025-12-17T15:05:58","slug":"hair-beauty-industry-at-risk","status":"publish","type":"page","link":"https:\/\/www.simplybusiness.co.uk\/about-us\/press-releases\/hair-beauty-industry-at-risk\/","title":{"rendered":"Coronavirus will cost small businesses in the hair and beauty industry over \u00a39,000 each \u2013 with a third at risk of permanently closing"},"content":{"rendered":"\n<div class=\"wp-block-group alignfull has-no-margin hero-bg has-background has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\" style=\"background:linear-gradient(180deg,rgb(255,255,255) 0%,rgb(243,243,243) 100%);padding-top:var(--wp--preset--spacing--150);padding-bottom:var(--wp--preset--spacing--150);background-image:url(&apos;https:\/\/www.simplybusiness.co.uk\/wp-content\/themes\/simply-business-uk\/assets\/images\/faq-bg.png&apos;);background-size:cover;\">\n<h1 class=\"wp-block-heading has-text-align-center has-azure-700-color has-text-color has-link-color has-max-huge-font-size wp-elements-e64c128aaf0e51c2ba63e5d560b6198c\">Coronavirus will cost small businesses in the hair and beauty industry over \u00a39,000 each \u2013 with a third at risk of permanently closing<\/h1>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Coronavirus will cost small businesses in the hair and beauty industry over \u00a39,000 each \u2013 with a third at risk of permanently closing<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\">Small businesses in the hair and beauty industry will lose \u00a39,282 each on average, in lost work, earnings and loan repayments<\/li>\n\n\n\n<li class=\"wp-block-list-item\">A third (33%) in the hair and beauty sector admit their business is at risk of permanently closing<\/li>\n\n\n\n<li class=\"wp-block-list-item\">More then two out of five (43%) are also concerned about the future of their business<\/li>\n\n\n\n<li class=\"wp-block-list-item\">Figures come soon after barbers and hairdressers were given the green light to re-open on 4th July<\/li>\n\n\n\n<li class=\"wp-block-list-item\">Simply Business has launched a free&nbsp;<a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/general\/coronavirus-loans-for-small-businesses\/\" data-type=\"knowledge\" data-id=\"979\">Financial Support Checker<\/a>&nbsp;to help small businesses and the self-employed to quickly determine what financial support and schemes are available to them during the coronavirus pandemic.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The impact of coronavirus to small businesses operating in the hair and beauty indsutry will exceed \u00a39,282 each in lost work, earnings and loan repayments, with one in three (33%) at risk of permanently closing, according to a new report.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Analysis of 411 hair and beauty business owners, released by small business insurer Simply Business, reveals that more than two out of five (43%) are also concerned about the future of their business. The figures come as many barbers and hairdressers were recently able to reopen their doors on Saturday (4th July), although beauticians and nail bars need to remain closed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Worryingly, well over a third (37%) of small businesses in the hair and beauty industry are also concerned about running out of money \u2013 with half (50%) of the participants admitting they have had to borrow money from friends and family to stay afloat. A quarter (26%) are also concerned about being able to pay back money borrowed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When it comes to financial support from the government, which has proven a lifeline for many, seven out of 10 (72%) have been able to apply for a government grant or loan, helping to relieve some of the financial pressure that SMEs are facing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Looking ahead, the study also revealed how hair and beauty firms feel about life after coronavirus, with three fifths (59%) worried about losing customers or their jobs from the pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But despite these challenges, one in five (22%), said they still felt optimistic about their business\u2019s chances after coronavirus. One in 20 (6%) even feel confident enough to start a new business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Alan Thomas, UK CEO at Simply Business, commented:<\/strong>&nbsp;<em>\u201cNo business has been able to escape the impact of the pandemic \u2013 and that\u2019s no different for small businesses and the self-employed. They\u2019re the lifeblood of the economy, and with many of these at risk of permanent closure, so much is at stake for our local communities and wider economy.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cFew small businesses have been hit as hard as those in the hair and beauty industry, and it&#8217;s clear that many will take time to recover. Small business owners and the self-employed have shown how creative, determined and resilient they are throughout the pandemic, and we know they\u2019re going to be crucial as the UK economy looks to bounce back.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cAlthough the likes of beauticians and nail bars are still unable to open their doors to customers, it\u2019s promising to see many barbers and hairdressers safely welcoming in customers while getting their livelihoods back on track.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Simply Business has launched a free&nbsp;<a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/general\/coronavirus-loans-for-small-businesses\/\" data-type=\"knowledge\" data-id=\"979\">Financial Support Checker<\/a>&nbsp;to help small businesses, landlords and the self-employed to quickly determine what financial support and schemes are available to them during the coronavirus pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A simple questionnaire takes business owners just a few minutes to complete and will point them towards relevant government financial support.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">-Ends-<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Methodology: Data: Survey of 411 hair and beauty small business owners from across the UK, conducted May 2020<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">How did we calculate the \u00a39,282 figure?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">100% of small business owners surveyed reported being affected financially by the coronavirus pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We asked small businesses how much they estimate the coronavirus pandemic will cost them in total, including lost earnings, jobs and revenue. The weighted average of this cost is \u00a39,282<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">For further information, please contact:<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Frank PR<br><a href=\"mailto:SimplyBusiness@welcometofrank.com\" target=\"_blank\" rel=\"noreferrer noopener\">SimplyBusiness@welcometofrank.com<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading wp-block-block\">About Simply Business<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" href=\"https:\/\/urldefense.com\/v3\/__http:\/simplybusiness.co.uk__;!!N96JrnIq8IfO5w!hIDMrGse3KHfJu5_CiqiOsFWnj8k1HROe8Oqz7zCb7P2qVQXkH81IbN1SpIhNqbbhmdQrc22NsXe3U9O5ajDdkHOTa_CgxPfLGQ$\" rel=\"noreferrer noopener\" rel=\"noopener noreferrer\" target=\"_blank\">Simply Business<\/a>\u202fis one of the UK\u2019s biggest business insurance providers, specialising in public liability insurance for small and midsize enterprises. Launched in 2005, Simply Business provides an online brokerage service, delivering policies tailored to individual business requirements.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Using the power of tech and data to create the best possible customer experiences, Simply Business employs over 1,200 people across offices in London and Northampton, UK; and in Boston, Massachusetts; and Atlanta, Georgia, in the U.S. Owing to the insurance provider\u2019s internal underwriting capability and expert panel of insurers, Simply Business can cover over 1,200 trade types \u2013 ranging from plumbers to accountants to dog walkers.\u202fIts UK brand campaign \u2013 \u2018<a target=\"_blank\" href=\"https:\/\/urldefense.com\/v3\/__https:\/www.simplybusiness.co.uk\/campaign\/small-businesses-deserve-our-best\/__;!!N96JrnIq8IfO5w!hIDMrGse3KHfJu5_CiqiOsFWnj8k1HROe8Oqz7zCb7P2qVQXkH81IbN1SpIhNqbbhmdQrc22NsXe3U9O5ajDdkHOTa_CxklTDMU$\" rel=\"noreferrer noopener\" rel=\"noopener noreferrer\" target=\"_blank\">Simply The Best<\/a>\u2019 \u2013 aims to help UK small businesses feel \u2018the best\u2019 about their business insurance.<\/p>\n\n\n\n<div class=\"wp-block-group has-azure-800-color has-cyan-100-background-color has-text-color has-background has-link-color wp-elements-101cbde2ee0c57c7d6d0d48cbb8134b8 has-global-padding is-layout-constrained wp-container-core-group-is-layout-80fb368b wp-block-group-is-layout-constrained\" style=\"border-radius:8px;padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<p class=\"has-text-align-center wp-block-paragraph\">We create this content for general information purposes and it should not be taken as advice. 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the hair and beauty industry over \u00a39,000 each \u2013 with a third at risk of permanently closing Coronavirus will cost small businesses in the hair and beauty industry over \u00a39,000 each \u2013 with a third at risk of permanently closing The impact of coronavirus to small businesses operating in 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