Research for Accountancy Age highlights disparity between SMEs across the UK as they begin to emerge from lockdown. Over one-third of small-to-medium sized businesses (SMEs) have been “completely disrupted” by the pandemic, according to new research by FreeAgent. Overall, 87 percent of surveyed SMEs said their business had suffered due to coronavirus, with further research…
Category archives: Corporate Accountancy
More than 500,000 UK Companies in Significant Financial Distress
509,000 UK companies are in significant financial distress—the highest number ever measured. The coronavirus lockdown has seen the largest quarterly increase in the number of businesses in significant distress since the end of 2017, growing by 15,000 companies. This figure is expected to increase throughout Q2 as COVID-19 restrictions continue. The number of critically distressed…