Two thirds of UK’s small businesses have changed to survive

New figures from Amaiz, the small business banking app, have highlighted the extraordinary ingenuity and resilience of the UK’s small businesses. Two thirds have reported that they’ve changed how they do business and half believe they’ve improved as a result of the pandemic. 34% said they wouldn’t have survived without making the change.

Small businesses are recognised as the backbone of the British economy and account for three fifths of employment and around half of turnover. However, their size means that they are able to pivot far more quickly than larger businesses. The research demonstrates just how critical that agility has been over the last few months.

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.

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