More than 1 in 4 UK companies are being heavily impacted by the corona pandemic. That is the conclusion of the business intelligence specialist Graydon UK, based on the financial health of UK businesses and the current economic situation. It is estimated that of all companies that Graydon UK identified as healthy at the beginning of March 2020, around 30 per cent are now facing difficulties.
- “The damage to business is significant, and the numbers are very concerning”, says Simon Blackwell, managing director of Graydon UK. “We aren’t used to having to publish these kinds of statistics.” More than 1 in 4 UK companies (27,2% of the total business population) are being heavily impacted. “The consequences are far reaching, especially considering how interconnected our economy is.” However, it is not all doom and gloom, there are also companies that are currently experiencing little to no impact from this crisis. “More than 70% of the business population is able to continue doing business under these circumstances although in the longer term the expectation is that these companies will also start feeling the impact.”
1pm plc (LON:OPM), established in 2006 is an independent provider of finance facilities to the SME sector. The 1pm plc group offer a full range of business finance solutions to the UK market from asset finance, hire purchase, commercial loans through to invoice finance and factoring. Gener8 Finance Limited is a wholly-owned subsidiary of 1pm.
