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SME Data Hub

1,000 UK SME owners across a range of sectors, regions and sizes, are surveyed regularly by specialist independent researcher, Kantar, on Close Brothers’ behalf.

Select a year and quarter to review the data we collected at that time.

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Q2 2020

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This data is free for you to use. All we ask is that you credit 'Close Brothers Asset Finance' if you do use it.

Select the year/quarter: Each 'wave' was collected at a specific time. Just select from the drop-down (above) the year/quarter you wish to view. 

Choose a question set: Below you can also choose different question sets to select data about a specific category or topic. 

Filter the data: Use the filters on the right to see the results split by gender, location, turnover, and industry. 

Compare data: If the same question has been asked in other years/quarters, you can use the drop-down underneath each chart to see how results have changed over time.

Questions

How did your business mainly take payments before the COVID-19 pandemic?

Cash 21.3%
Chip and pin payments 16.3%
Online card payment 31.7%
PayPal 7.7%
Cheques 8%
None of the above 15%

How has your business mainly been taking payments during the COVID-19 pandemic?

Cash 10.5%
Chip and pin payments 14.5%
Online card payment 40.4%
PayPal 8.7%
Cheques 7.1%
None of the above 18.8%

How has COVID-19 changed the way your business uses cash?

We’re using more cash 9.2%
The amount of cash we are using hasn’t changed 38.7%
We’re using less cash 45.5%
Don’t know 6.5%

How would using less cash in your business make you feel?

Very safe 13.7%
Safe 30%
Neither safe nor unsafe 46.6%
Unsafe 7%
Very unsafe 2.8%

What do you think is the main benefit of using less cash in your business?

Easier for accounting 27.1%
Payments are more secure 26.4%
Reduced threat of physical theft 14.8%
More sales data available 3.2%
It’s more hygienic 14.8%
None of the above 13.8%

Have you seen an increase in late payments due to the COVID-19 pandemic?

Yes, late payments have increased by 25% or less 29.1%
Yes, late payments have increased by 26-50% 21.8%
Yes, late payments have increased by more than 50% 6.7%
No, we have not seen an increased in late payments 42.5%

Has the COVID-19 pandemic impacted how quickly you pay external companies?

Yes, we are paying invoices more quickly 12.2%
Yes, we have been forced to delay some invoices 31.5%
Yes, we are unable to make payments are the current time 7.1%
No, invoices are being paid at a similar rate as before the crisis 49.2%

In the current circumstances, do you feel that your business requires you to be ‘always on’?

yes 56.9%
no 43.1%

How has your business’s cash flow been affected by COVID-19?

No change 19.1%
25% reduction 33.2%
50% reduction 20.3%
75% reduction 11%
100% reduction 10.1%
Unsure 6.3%

How long do you expect operational arrangements to be in place?

Less than 1 month 4%
1-3 months 21.1%
4-6 months 31.4%
7-9 months 12.9%
10-12 months 9.6%
Longer than 12 months 8.8%
We expect the measures put in place to become permanent 6.3%
Don’t know 6%

What is the current status of your business, as a result of the COVID-19 pandemic?

Open as normal 40.5%
Closed completely until lockdown ends 21.4%
Closed for good 6%
Open for emergencies only 5.1%
Open for online consultations / meetings 8.2%
Majority working from home 18.8%

When do you believe/expect your business will be fully operational?

Within a month 15.7%
Within 3 months 36.6%
Within 6 months 28.9%
Unsure 13.7%
Not applicable to our business 5.1%

In terms of future staffing, do you believe your business will return...

With the same number of people 38.5%
With fewer people 43.6%
With more people 8.5%
Too early to tell 9.5%

Have you made use of the government’s furlough scheme for staff? (temporary COVID-19 wage subsidy scheme in Ireland)?

Yes 49.7%
No, haven't needed to 11.2%
No, but will consider for the future 39%

Have you made a COVID-19 Business Interruption Loan Scheme (CBILS) application?

Yes, it was approved 23%
Yes, it was declined 8.1%
No application made – not needed 52.3%
Still considering whether to apply or not 16.5%

Will you be actively encouraging working from home?

Yes, for those who don't need to be based in the office 45%
Yes, for everyone in the business 26%
No, everyone needs to be in the office / on site 13.2%
No, I don't believe it's a viable long-term option for my business 15.9%

Will you be looking to make your business more cycle-friendly, following the COVID-19 pandemic?

yes 40.8%
no 33.5%
Too early to tell 25.6%

Do you feel that COVID-19 has given you a better appreciation of the value of nature?

yes 75.1%
no 24.9%

Do you feel COVID-19 has given society a better appreciation of the value of nature?

yes 74%
no 26%

Will your business be encouraging volunteering with nature conservation charities, once the COVID-19 pandemic has passed?

yes 50.3%
no 49.7%

Have you noticed a difference in the air quality, since the COVID-19 pandemic?

yes 68.4%
no 28.4%
I have not been outside to notice a change 3.2%

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