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SME Data Hub

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

Use the drop-downs to select a year and quarter to look at the data we collected at that time.

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Q4 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 has your business mainly been taking payments during the COVID-19 pandemic?

Cash 16.6%
Chip and pin payments 18.2%
Online card payment 37.8%
PayPal 8.6%
Cheques 3.1%
None of the above 15.8%
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 13.6%
The amount of cash we are using hasn’t changed 34.8%
We’re using less cash 44.9%
Don’t know 6.8%
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 18.7%
Safe 27.2%
Neither safe nor unsafe 41.3%
Unsafe 8.7%
Very unsafe 4.1%
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 25.9%
Payments are more secure 27.1%
Reduced threat of physical theft 15.3%
More sales data available 4.4%
It’s more hygienic 15.2%
None of the above 12%
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%
Yes, late payments have increased by 26-50% 24.8%
Yes, late payments have increased by more than 50% 7.2%
No, we have not seen an increased in late payments 39%
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 16%
Yes, we have been forced to delay some invoices 32.4%
Yes, we are unable to make payments are the current time 6%
No, invoices are being paid at a similar rate as before the crisis 45.6%
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 60.2%
no 39.8%
yes 56.9%
no 43.1%

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

No change 20.7%
25% reduction 38.6%
50% reduction 20.9%
75% reduction 11.7%
100% reduction 3.7%
Unsure 4.6%
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 1.1%
1-3 months 13.6%
4-6 months 33.2%
7-9 months 16.7%
10-12 months 11.5%
Longer than 12 months 10%
We expect the measures put in place to become permanent 7.8%
Don’t know 6%
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 51%
Closed completely until social distancing ends 13.2%
Closed for good 8.7%
Open for emergencies only 4.4%
Open for online consultations / meetings 6.8%
Majority working from home 15.9%
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 13%
Within 3 months 24.7%
Within 6 months 30.6%
Unsure 22.3%
Not applicable to our business 9.5%
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 40.1%
With fewer people 38.9%
With more people 8.2%
Too early to tell 12.8%
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 a COVID-19 Business Interruption Loan Scheme (CBILS) application?

Yes, it was approved 23.3%
Yes, it was declined 11.1%
No application made – not needed 52.2%
Still considering whether to apply or not 13.4%
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 45.4%
Yes, for everyone in the business 27.6%
No, everyone needs to be in the office / on site 13%
No, I don't believe it's a viable long-term option for my business 14%
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 40.2%
no 38.1%
Too early to tell 21.7%
yes 40.8%
no 33.5%
Too early to tell 25.6%

What is the main challenge you would face by using less cash in your business?

Access to the right systems i.e. card readers 13.1%
Technology failure 21.4%
Online security/hacking 19.1%
Makes immediate sales more difficult 7.4%
We would not face any challenges 20.8%
None of the above 18.1%

Has the COVID-19 pandemic impacted how quickly your invoices are resolved?

Yes, we are receiving payments more quickly 17.8%
Yes, we are seeing more delays to payments 37.1%
Yes, we are seeing an increase in bad debts 6.3%
No, invoices are being paid at a similar rate as before the crisis 38.8%

What is the main impact COVID-19 has had on your mental health?

I find it harder to switch off 14.3%
I feel more anxious 22%
I have low moods more often 14.7%
I feel lonely 9%
I have had sleepless nights 15.2%
I do not think the COVID-19 pandemic has negatively impacted my mental health 24.8%

Since COVID-19, how stressed do you feel about cash flow?

Not stressed at all 22.8%
Slightly stressed 0%
Moderately stressed 49.4%
Very stressed 20.8%
Extremely stressed 7%

Since COVID-19, how stressed do you feel about meeting operations costs, such as rent?

Not stressed at all 31.7%
Slightly stressed 0%
Moderately stressed 44.1%
Very stressed 17.3%
Extremely stressed 6.9%

Since COVID-19, how stressed do you feel about your duty of care to staff (financial and health / wellbeing)?

Not stressed at all 27.6%
Slightly stressed 0%
Moderately stressed 42.4%
Very stressed 22.7%
Extremely stressed 7.3%

Since COVID-19, how stressed do you feel about profits decreasing?

Not stressed at all 22.6%
Slightly stressed 0%
Moderately stressed 41.2%
Very stressed 26%
Extremely stressed 10.2%

Since COVID-19, how stressed do you feel regarding uncertainty about your business’ future?

Not stressed at all 22.2%
Slightly stressed 0%
Moderately stressed 42.2%
Very stressed 24.6%
Extremely stressed 11%

Since COVID-19, how stressed do you feel about the economic outlook?

Not stressed at all 15.1%
Slightly stressed 0%
Moderately stressed 41.4%
Very stressed 29.9%
Extremely stressed 13.6%

What is the main step you have taken to reduce your stress or anxiety?

I share concerns with colleagues or friends and family 13.8%
I have tried to maintain a routine 21%
I give myself regular breaks 15.7%
I’m more flexible with my working day 18.2%
I am staying organised 19.7%
I have not taken any action to try to help my stress and anxiety 11.7%

What is the main operational arrangement you have had to (or will have to) put in place?

Working from home 43.6%
Staggered start times 18.3%
Alternate work days 10.3%
Enforcing social distancing 16.3%
None of the above 11.4%

Will you making use of the Government’s new Job Support Scheme:

yes 38.2%
no 42.6%
unsure 19.3%

Do you feel the new Job Support Scheme is a sufficient replacement for the Furlough scheme?

yes 39.1%
no 31.8%
unsure 29%

Are you clear how the new Job Support Scheme works?

Yes, it’s straightforward 31.3%
Yes, but I’ve had to do a lot of research 32%
No, it’s too complicated 13%
No, I haven’t had the chance to research it yet 23.7%

Do you know if your is firm eligible for the new Job Support Scheme?

yes 46.2%
no 25.5%
unsure 28.3%

Have you made a COVID-19 Bounce Back Loan (BBL) application?

Yes, it was approved 22.9%
Yes, it was declined 9.1%
No application made – not needed 53.3%
Still considering whether to apply or not 14.6%

What is the main personal commuting habit change you have made as a result of COVID-19

I will work from home more often 40.4%
I will cycle to work more often 9.8%
I will walk to work more often 7.6%
I will drive to work more often 9.8%
I will use public transport more frequently 1.8%
I will use public transport less frequently 2.6%
I will stop using public transport completely 3%
N/A – I have not started commuting yet to make any changes 4%
N/A – no changes, I will continue as I did before 21.1%

What is the main way you think commuting habits will change in the long-term?

People will avoid public transport 39.2%
People will go back to using mass public transport because of a lack of options 17.1%
People will actively explore alternative commuting options 21.3%
There will be more people driving to work 10.2%
There will be no significant shift in habits 12.1%

Should there be more investment in cycling infrastructure?

Yes, to prevent the roads from becoming overwhelmed with people avoiding public transport 28.7%
Yes, to improve people's physical and mental wellbeing 37%
Yes, to encourage and cement the recent change in commuting behaviour 10%
No, there is already enough investment 24.3%

Has your business become more online-based as a result of COVID-19?

Yes, day to day operations occur online more 28.3%
Yes, more trading occurs online 26%
Yes, both operations and trading happen more online 9.1%
No, our business model is the same 36.6%

Have you invested more in digital infrastructure as a result of COVID-19?

Yes, we have made a significant investment 23.7%
Yes, we have invested slightly 35.7%
No, we have not invested in any additional digital tools 40.7%

Would you say your work environment is ‘COVID-secure’?

yes 78.1%
no 12.7%
Unsure 9.2%

Have you tested positive for COVID-19?

yes 18%
no 80.3%
Unsure 1.6%
Prefer not to answer 0.1%

Have any of your staff tested positive for COVID-19?

yes 27.1%
no 69.8%
Unsure 3.1%

Have you or any of your staff had to self-isolate?

yes 42.3%
no 55.6%
Unsure 2.1%

Are staff confident to return to the office / place of work?

yes 64.8%
no 23.1%
Unsure 12.1%

Are staff able to work from home?

yes 70.2%
no 28.7%
Unsure 1.1%

Is this likely to continue after COVID-19?

yes 67.4%
no 17.9%
Unsure 14.7%

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