Latest news from Directorbank

7 October 2020

Directorbank Survey Findings – SMEs & COVID-19: Part 2

Just released: Findings – Follow up to our SMEs & COVID-19 survey.

Comparing the findings from our April and October surveys – incorporating over 800 individual responses from our UK Board-level network – to provide some perspective on how SME business sentiment has evolved over the last 6 months across a range of pertinent topics.

To view the report here

The findings are very much in line with what we are sensing from our Board-level SME network, the main headlines being:

  • For many businesses the last six months have been better than predicted, maybe because of huge Government support. Some sectors, particularly travel and hospitality, continue to be hit hard.
  • Views on next year are slightly more pessimistic, mainly because of a feeling of Government incompetence, the ending of support schemes and lack of a plausible vaccine.
  • Confidence in the Government has dropped significantly and many of our respondents were rather vociferous on this topic.
  • The furlough scheme has been a big success in helping businesses weather the storm.
  • Changes in ways of working are here to stay as a more hybrid home/office environment seems to have become the new normal.

Our thanks go once again to all those who contributed their feedback.

We hope you find the report of interest.