2 in 5 SME business leaders in the Capital experience mental health impact from pandemic

0

New data from Klarna, the leading global retail bank, payments, and shopping service, has revealed 47% of SME leaders in London have yet to recover from the pandemic.

  • London’s SME business leaders experienced a negative impact to their mental health from the strain of the pandemic
  • Half of London’s SMEs say they have yet to recover from the economic fallout of Covid-19
  • 1 in 5 SME business leaders in London are lacking confidence for their business’s prospects over the next 2 years
  • Research comes as Klarna launches £3mn SME support package

With small businesses having to close their doors to customers due to national lockdowns, the research found that 41% of SME decision-makers in the Capital felt a negative impact on their mental health throughout this time. Business leaders cited supply chain issues, a lack of sales, and the combined impact of the pandemic and Brexit weighing heavily on them during the pandemic.

The nationwide survey of over 500 UK SME leaders revealed that 1 in 5 SME business leaders (18%) in London are feeling pessimistic about the future of their business over the next 2 years. Such was the strain of the pandemic, 41% of SME leaders in London said that they thought their business would not be able to survive the pandemic.

Klarna has recently launched a new £3m Small Business Support Package and Accelerator Programme to help UK SMEs recover from the pandemic. The package will help 100 retail SMEs get back on their feet, with a ten-part accelerator programme alongside to help any UK SME receive access to tips and guidance to help grow their business.

Applications are open until 8th September.

Share.

Comments are closed.

Subscribe Now!

Sign up for a FREE subscription and receive the latest news, features and updates from SMEToday: