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GC Business Survey

Much has already happened in 2021. The national lockdown rules were changed on 29 March, but restrictions remain in place which will have an impact on the GM and national economy. We felt it was important to look back and share our survey findings for 2020/2021 with you. Go to our website to read more in a blog from GC Business Growth Hub’s Head of Business Intelligence Rupert Greenhalgh.

Looking back - how GM businesses dealt with the Covid-19 pandemic in 2020

Latest report: 29th March

Summary of key findings

 

The findings in this report are based on 125 firms responding to the GC Business Survey from 1st March to 29th March.

In total, there have been over 7,000 responses to the Business Survey since March 2020.

 

 

Download the full report below.

 

• The four main impacts facing businesses are decreased sales (49% vs 59% previous month), cashflow problems (35% vs 24%), business travel to visit clients (29% vs 29%) and minor supply chain issues (28% vs 19%).

 

• The number of firms reporting decreasing sales has decreased since the previous report, however, there has been a significant increase in firms reporting cashflow problems.

 

• By sector, the impact of decreased sales is most prevalent in hospitality, tourism & leisure and creative & cultural industries.

• The main challenges are currently seen as: getting access to new domestic sales opportunities (53% vs 44%), workforce and skills (33% vs 18%) and developing new products and services (32% vs 20%).

 

• 51% of firms are continuing to trade at their usual workplace, 22% only trade remotely 21% are continuing to trade remotely and at the usual place of work.

 

• 56% of firms (up from 37%) expect profits to increase, while 2% (down from 12%) expect profits to decrease. The retail, digital & technology and business, financial & professional sectors are most likely to report an increase in profit.

 

• The main “other” future challenges highlighted by firms include, long-term economic uncertainty, regulatory issues related to Brexit, minor supply chain disruption caused by the UK’s new trading regime with the EU, and issues related to loss of income.

 

 

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Archived reports

Download 1st March report

Download 15th February report

Download 1st February report

Download 18th January report

Download 21st December report

Download 7th December report

Download 23rd November report

Download 9th November report 

Download 26th October report

Download 12th October report

Download 28th September report

Download 14th September report

Download 28th August report

Download 17th August report

Download 3rd August report

Download 20th July report

Download 6th July report

Download 29th June report

Download 22nd June report

Download the 15th June report

Download the 8th June report

Download the 1st June report

Download the 25th May report

Download the 18th May report

Download the 11th May report

Download the 4th May report

Download the 27th April report 

Download the 20th April report

Download the 15th April report

For more information on this survey please contact

Sabirah.Chowdhury@growthco.uk 


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If you would like to speak to an advisor about the impact of COVID-19 on your business, complete this form and we will get in touch.

More information is available on the UK Government’s Coronavirus Business Support website. For more personalised advice call us on: 0161 359 3050 or email us at:BGH@growthco.uk 

 

The information provided is meant as a general guide only rather than advice or assurance. GC Business Growth Hub does not guarantee the accuracy or completeness of this information and professional guidance should be sought on all aspects of business planning and responses to the coronavirus. Use of this guide and toolkit are entirely at the risk of the user. Any hyperlinks from this document are to external resources not connected to the GC Business Growth Hub and The Growth Company is not responsible for the content within any hyperlinked site.