{"id":987,"date":"2021-06-09T00:00:00","date_gmt":"2021-06-09T00:00:00","guid":{"rendered":"https:\/\/www.simplybusiness.co.uk\/knowledge\/articles\/the-impact-of-covid-19-uk-small-business-2021\/"},"modified":"2025-05-22T13:18:40","modified_gmt":"2025-05-22T13:18:40","slug":"the-impact-of-covid-19-uk-small-business-2021","status":"publish","type":"knowledge","link":"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-news\/the-impact-of-covid-19-uk-small-business-2021\/","title":{"rendered":"What\u2019s the impact of Covid-19 on small businesses? Here\u2019s our 2021 report"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">As Covid-19 restrictions in the UK gradually ease, a new report from Simply Business reveals the impact of Covid-19 on small business owners and the self-employed.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/funding\/small-business-grants\/\" data-type=\"knowledge\" data-id=\"1525\" ><strong>UK small business grants<\/strong><\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/hospitality\/top-online-restaurant-reservation-systems\/\" data-type=\"knowledge\" data-id=\"1008\" ><strong>5 tips on how pubs and restaurants can reduce no-shows<\/strong><\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/general\/coronavirus-loans-for-small-businesses\/\" data-type=\"knowledge\" data-id=\"979\" ><strong>Visit our coronavirus support hub<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">We spoke to 1,206 small business owners from across the UK to get an in-depth understanding of the impact of Covid-19 on a crucial section of the UK economy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"downloadthecovid19businessimpactreportforallourdata\">Download the Covid-19 business impact report for all our data<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The below article gives a snapshot of our data, but to find out the full impact of Covid-19 on the UK\u2019s small business, download our complete report.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-lead-50-color has-alpha-channel-opacity has-lead-50-background-color has-background\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Get your free 2021 report on the impact of coronavirus<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Download your free in-depth report. Find out more about the cost of coronavirus and overall business confidence.<\/p>\n\n\n\n<div class=\"wp-block-button has-size-medium\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/05\/simply-business-report-covid-19-impact-on-small-business-PDF.pdf\">Download<\/a><\/div>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-lead-50-color has-alpha-channel-opacity has-lead-50-background-color has-background\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"theimpactofcovid19oncostismorethananticipated\">The impact of Covid-19 on cost is more than anticipated<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Last year, our data said that small businesses and the self-employed expected total Covid-19 costs to reach <strong>\u00a369 billion<\/strong>.<\/p>\n\n\n\n<div id=\"nba-body-001\">\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">But nearly 12 months later, our latest report reveals that the total anticipated cost will be upwards of <strong>\u00a3126.6 billion<\/strong> \u2013 nearly double the initial estimated amount.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Beyond the total cost, our headlines also reveal further business challenges:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\"><strong>81 per cent<\/strong> of small businesses said they <strong>haven\u2019t had enough support from the government<\/strong><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><strong>24 per cent<\/strong> said there should\u2019ve been <strong>greater communication and\ntransparency about the impact on small businesses and the self-employed<\/strong><\/li>\n\n\n\n<li class=\"wp-block-list-item\">regions across the UK have been impacted differently, with <strong>London<\/strong>, <strong>Scotland<\/strong> and the <strong>North East<\/strong> among the hardest hit areas<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"despitebusinesschallengesnewentrepreneursareontherise\">Despite business challenges, new entrepreneurs are on the rise<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019ve mentioned before that while it\u2019s been a difficult and challenging time for small businesses, they\u2019ve also been creative and resilient.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">New businesses have even emerged. We\u2019ve seen <strong>home baking businesses<\/strong>, <strong>courier services<\/strong>, and <strong>property maintenance<\/strong> all have big year-on-year increases in requests for insurance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The vaccine rollout is also providing optimism, but <strong>48 per cent<\/strong> of small businesses are worried about the potential of another lockdown.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And small businesses do need time to heal \u2013 <strong>18 per cent<\/strong> think this will take them <strong>18 months to two years<\/strong>, while <strong>20 per cent<\/strong> think it could take them <strong>three years or more<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For more small business news on Covid-19 and other important topics, keep an eye on our Knowledge centre.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>We\u2019d like to carry on hearing from small business owners about the impact of Covid-19. Please leave a comment below to tell us about your experience.<\/strong><\/p>\n\n\n\n<div class=\"wp-block-group has-azure-200-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-94e519ba wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--80);padding-right:var(--wp--preset--spacing--40);padding-bottom:var(--wp--preset--spacing--80);padding-left:var(--wp--preset--spacing--40)\">\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"areyouprotectingyourbusiness\">Are you protecting your business?<\/h3>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">As the UK&#8217;s biggest <a href=\"\/business-insurance\/\" data-type=\"page\" data-id=\"5152\" >business insurance<\/a> provider, we understand the importance of protecting your interests. Why not take a look now and build a quick, tailored <a href=\"\/business-insurance\/\" data-type=\"page\" data-id=\"5152\" >business insurance quote<\/a>?<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/quote.simplybusiness.co.uk\/business\">Start your quote<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div id=\"nba-body-end\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>We\u2019ve spoken to small business owners and the self-employed about the impact of Covid-19 and restrictions \u2013 here\u2019s our in-depth report. Read more.<\/p>\n","protected":false},"author":3,"featured_media":26273,"comment_status":"open","ping_status":"closed","template":"","meta":{"sb_hreflang":"","sb_hreflang_url":"","disable_breadcrumbs":false,"sb_breadcrumbs":[],"sb_reviewed_by":"","sb_review_date":"","sb_enable_content_gating":true,"footnotes":""},"categories":[336,110],"hidden-category":[],"coauthors":[26],"class_list":["post-987","knowledge","type-knowledge","status-publish","has-post-thumbnail","hentry","category-business-structure","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The impact of Covid-19 on UK small business: 2021 report<\/title>\n<meta name=\"description\" content=\"We\u2019ve spoken to small business owners and the self-employed about the impact of Covid-19 and restrictions \u2013 here\u2019s our in-depth report. 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