Survey reveals quarter of UK businesses have temporarily suspended trading

21 Apr 2020

A survey carried out by the Office for National Statistics (ONS) has revealed that a quarter of UK businesses have temporarily suspended trading as a result of the coronavirus (COVID-19) lockdown.

The ONS's Business Impact of Coronavirus Survey found that, of the 5,316 businesses that responded for the period 23 March to 5 April 2020, 25% stated that they have temporarily closed or paused trading while the lockdown continues. 75% of firms are continuing to trade, according to the survey.

Of responding businesses that are continuing to trade, 38% reported that their turnover has been 'substantially lower than normal'.

'It's never been more important, or more appreciated, that businesses and individuals give their time to tell us about their experiences,' said Iain Bell, Deputy National Statistician at the ONS.

'The information from these surveys is providing vital insight to the UK government into how people are responding to, and feeling about, the current situation, including their anxieties and measures that are helping them to cope.'

About us

Higgisons was formed by John Higgison in Oxford Street in 1965 and was originally part of the Accountancy Tuition Centre until James McHale became managing partner and the firm moved to its City Road premises in 1982.

We like to become involved at the planning stage of the formation of a business venture to ensure that it is structured as flexibly and efficiently as possible so that it can cope with changes in legislation or personal circumstances.

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