The COVID-19 pandemic has sent shockwaves through the economy, with the 28,499 ambitious companies Beauhurst track—and the UK’s 3.8m SMEs in general, being particularly badly affected. These smaller companies can’t afford to keep large reserves of cash, meaning they’re especially vulnerable to sudden economic shocks.
And with 2.8m employed by ambitious companies, and 16m by SMEs more broadly – this goes well beyond being simply a “business problem”. It’s a problem for society and, for millions of households, a very personal problem too. However, there’s been a lack of clarity over the extent of this problem. So, over the past few weeks, Beauhurst’s incredible Data team has been hard at work determining the precise effects of COVID-19 on the companies tracked on their platform.
This unique dataset allows them to measure and map the broad impact of the pandemic on the UK’s high-growth economy, as well as the individual measures that are being taken to limit the spread and consequences of coronavirus.
In this preliminary report, Beauhurst have highlighted particularly vulnerable areas as well as the very fortunate categories of companies that may perform well under these circumstances. Beauhurst concludes this report with their recommendations for to central Government. The policies they’ve set out would help protect our current cohort of fast growing companies, and maintain the UK’s enthusiastic entrepreneurial spirit, which has been so carefully nurtured over the past few decades.
“The companies we track are the UK’s economic powerhouse. They employ millions of people, have received billions in investment and grants, and operate in sectors as diverse as AI and catering. It’s therefore crucial to understand how the Covid-19 epidemic is impacting these businesses. Our data, analysed in the following pages, show just how much is at stake. These firms will be integral to the UK’s productivity as we enter recovery, so it’s crucial to make sure the interventions proposed by the Government reach these companies” Henry Whorwood, Head of Research & Consultancy
You can read the full insight report for free here: