Coronavirus: July 2020 - Business Impacts Barometer
20 Aug 2020
Discover the findings from our fifth monthly barometer on our industry’s attitudes to the evolving coronavirus challenge, generated thanks to the kind contributions of around 80 responses from across the DMA community.
In this July edition (with a long read here), many businesses surveyed continue to experience ramifications on revenues however the responses also reveals the first signs of recovery.
Our findings highlight:
- Trading revenues have shown early signs of recovery, improving from down 44% in June to down 34% in July
- But concerns about the impact on businesses have remained high and the number of businesses applying for the UK Government’s ‘Coronavirus Business Interruption Loan Scheme’ has increased markedly
The report also reveals a significant increase in the number of businesses expecting to make difficult staffing decisions in the coming month with:
- 34% of businesses unable to retain freelance or short-term staff
- 23% have had to make permanent staff redundancies within their workforce
On the upside:
- 58% of businesses are trying to avoid redundancies with many continuing to use the government’s Job Retention Scheme
- One in four of those asked are hoping to take advantage of the recently announced Job Retention Bonus
The DMA continues to lobby Government to address our industry’s key concerns. For the latest business support and guidance around the coronavirus, head to Coronavirus: Advice and Help.