Benjamin Dyer, CEO of Powered Now, provides research across 1,000 small businesses regarding how the trade sectors are bouncing back post-lockdown.
The lockdown saw small and medium-sized businesses struggle during the months of April and May. Many enterprises that could not adapt to the lockdown relied on the government’s initiatives to help them weather the storm. Whilst sales dropped off, new data from Powered Now today shows that many business owners are poised to come back in the coming months. Based on the sales figures of 1079 SMEs, which includes Plumbers, Electricians, Handymen, Gas Engineers and many more, trade sectors are seeing that sales figures are returning to pre-lockdown levels. The total sales by month were as follows:
Perhaps more interestingly, the statistics from the 591 SMEs that had figures available for both 2019 and 2020, show that the sector has not suffered the vast decline that may have been expected as a result of Coronavirus. Before lockdown was enforced, the sector was in growth, with further the month of June showing that the sectors were already back to performing better than last year.
2019 vs. 2020
January 2019 – £6.3m
January 2020 – £6m
February 2019 – £5.7m
February 2020 – £6.8m
March 2019 – £6.6m
March 2020 – £7.3m
April 2019 – £6.2m
April 2020 – £3.4m
May 2019 – £6.4m
May 2020 – £4.7m
June 2019 – £5.9m
June 2020 – £6.3m
First six months of 2019 total: £37.1m
First six months of 2020 total: £34.4m
Benjamin Dyer has commented on the data: “Whilst it is true that many small and medium-sized enterprises and tradespeople have faced significant challenges during the lockdown, this data gives us reason to be optimistic. Many companies quickly adapted to the shutdown, finding ways to operate and prosper, whereas other took full advantage of the government’s economic care package. Either way, the consistent growth since the initial downturn at the start of lockdown shows the resilience of many innovative SMEs.
The government’s economic response helped buoy SMEs during the economic downturn, which can now begin trading again as lockdown regulations ease. This bodes well for the future, showing that Britain’s entrepreneurial spirit is still very much alive in the wake of the pandemic.”