Almost half (47%) of SMEs have implemented remote working among staff in full, while a further 39% have partially introduced these measures.
Just 15% have not implemented any remote working, and it’s likely that these businesses are in ‘key’ B2B sectors, such as retail.
Read about our response to Covid-19.
Almost a third (31%) believe they will only be able to meet their business costs until July, and three-quarters (75%) say they won’t be able to maintain costs for more than 12 months.
Almost a third of those businesses surveyed (31%) said they have furloughed staff to save costs.
Bad debts and late payments
Since the outbreak in the UK, a quarter of SMEs have experienced bad debt, writing off an average of £34,500. Over a third (35%) of SMEs reported that customers were taking longer to pay than usual.
Find out about Bad Debt Protection and our other funding options.