Small Businesses on the Up!!!
While some of us were busy baking banana bread, others were launching their own businesses UK’s budding entrepreneurs are making it work, against all the odd's. Despite the uncertainty of the new normal and the mass shakeup of the job market causing around 700,000 job losses in the UK, Some have decided it was time to be brave.While many have had to endure this financial rollercoaster holding tightly to the purse strings, others have used the economic shock as a window of opportunity, to revamp their businesses. There are roughly 5.8m small businesses in the UK, with the Office for National Statistics (ONS) stating that entrepreneurs are set to play a “vital role” in the UK’s recovery, particularly those involved in online retail. While Covid-19 has been a blow to physical retail stores, notably the British high street, it has accelerated e-commerce, with online sales from April onwards peaking at almost double the previous year’s levels.