COVID hammers UK firms – but sparks digital ‘pivot’ for some

22 December 2020

• Over 40% of UK’s small and medium-sized firms report COVID-related hit to turnover, while 3 in 10 forced to cut jobs
• Around 200,000 firms could be close to collapse based on analysis of those trading insolvently or running out of cash
• But a fifth of firms report positive impacts from the pandemic, with many embracing digital technologies and green agenda