Published: 11th Jan 2021

At least 250,000 UK small businesses are set to fold without further financial help from the government, according to a new survey. The study by the Federation of Small Businesses (FSB) warns that one in five firms reduced headcounts in three months to December, and one in seven expect to do so in the first quarter of this year. A survey of 1,400 firms for the FSB found just under 5% say they expect to close this year. But the FSB adds this figure does not reflect the threat of closure faced by those hoping to survive despite having frozen their operations, reduced headcounts or taken on significant debt. And close to a quarter (23%) of the small firms surveyed have decreased the number of people they employ over the last quarter, up from 13% at the beginning of last year. One in seven (14%) say they’ll be forced to … (To read the full article, subscribe below)