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SMEs lose £2.2 billion as customers go out of business during lockdown

News Team, 09/10/2020

SMEs across the UK are counting the cost of the lockdown as they prepare for a testing final quarter of 2020.

Risktech business Nimbla surveyed 2,000 UK SMEs and found that £2.2 billion in revenue (for goods and services provided during lockdown) has been lost because of customers falling into administration. This number is set to increase dramatically over the course of the next year, it was predicted.

More than a third (38 percent) of SMEs are stil...


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