Impact of Covid-19 on Small and Medium Businesses in UK - Quantitative Data Analysis Report

QUANTITATIVE DATA ANALYSIS REPORT

EXECUTIVE SUMMARY
The entire report shed a light upon different ways through which pandemic affected the
small businesses in UK. For that, official statistics has been taken that determine in how many
ways Covid-19 affected the entire business operations in adverse manner. Such that it highly
affected unemployment rate of a country because range of companies force employees to leave
the business. Also, the demand of a customers also affected adversely such that customers do not
spend to buy anything because of lower down the economic rate of a country. Further, it has
been identified that there is a negative impact upon the business operations and that is why, it
affected the overall performance of a company during and post covid-19.

Table of Contents
INTROUCTION .............................................................................................................................3
Aim..............................................................................................................................................3
Literature review.........................................................................................................................3
Data analysis ..............................................................................................................................6
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19

Topic: To identify the impact of covid-19 upon small and medium businesses over the UK
sector
INTROUCTION
Pandemic affect the entire business in opposite manner because it leads to shut down the
businesses and this in turn affect the performance of company adversely. Similarly, the present
study is also shed a light upon its impact over the trade and businesses. Further, the report is
based upon secondary data collection methods only where authentic sources considered in order
to meet the defined aim. The chosen business problem for this report is to determine the impact
of pandemic over the SME sector in UK because it is affected the most and for that government
also offer range of grants in order to improve the business operations. Moreover, the report will
also assist to determine different ways through which businesses affected and this in turn causes
direct impact over the company as well. Further, with the help of official national statistics
sources, the report will determine ways through which small businesses affected negatively and
this in turn affected the demand of customers as well. Also, report uses secondary data
collection method in order to develop brief thesis that assist to determine the impact of covid -19
upon business performance in which data is supported through different authors and with the
help of findings, study will determine range of ways through which the data can be presented.
Aim
The aim of the study is to determine the impact of pandemic upon UK small and medium
businesses by considering different elements within a study.
Literature review
According to Victor and et.al. (2021) SME sector of UK contribute to 47% to the
economy of UK and that is why, it can be stated that it is a key role in boosting the productivity
of UK that increases the brand image at global level. From the results generated through
McKinsey survey, it has been analyzed that the sector has thrive due to tough trading restriction
which imposed during covid-19. This in turn reflected that there are major areas which are highly
affected due to pandemic and this in turn worrying the owner because they do not have any
options that can be used to improve the business performance. However, Juergensen, Guimón
and Narula (2020) critically analyzed that the revenue of SME fallen in May 2020 whereas they
also gain their market from November 2020.

According to the secondary data, the above image clearly reflected that the sales is
improved from November and this is because there were no restrictions imposed during these
days and that is why, the company increases their sales by contributing their part towards a UK
economy (UK small and medium size enterprise: Impact on COVID 19, 2021).
In the opinion of Melnyk and et.al., (2021) there are many sectors that affected negatively
and they also took enough time in order to recover from the same that helps to improve the
business performance. The resource also reflected that unemployment rate also arose by 5% and
this in turn indicate that there was loss of jobs that also consider negative impact over UK
economy. Not only this, most of the SME sector also faces range of challenges due to pandemic
which includes that travel and tourism sales fall due to banned of tourism and this affect their
performance in negative manner. Also, Hurley and et.al., (2021) argued that the trend in SME is
completely changed after pandemic because the turnover and employment decreases quickly that
affect the business performance in negative manner. This in turn affect growth of a companies
and also experienced a decline in turnover than employment where government also support to
provide grants.
Belghitar, Moro and Radić (2021) investigated in their study that nearly half of the UK
manufacturers recover soon at the end of 2020 and this is because government offer range of
grants to the businesses in order to revive them back to their original position. It is so small

businesses contribute 50% to the UK economy and that is why, government focuses upon this
area so that the business can earn profit. During the pandemic, government offers range of
facilities however, stockpiling is consider one of the major issue in other countries. It is nit
highly affected in the areas of UK because government makes enough preparations in order to
improve the business performance. The survey conducted from the Lumina intelligence stated
that 34% of UK consumer either have or considering the food and drinks before the end of 2020
and this in turn lead to increases stockpiling. Brown and Cowling (2021) critically evaluated that
this challenges lead to increases the product shortage and lack of lorry drivers also increases the
issue among UK SME.
Overall, it has been reflected that there is a major negative impact identified upon SME,
but with proper grants from government, the sector recovered soon. This in turn reflected that
there was a great loss of skilled employees and this contribute to increase the unemployment
rate. Along with this, it has been identified that the demand of customers also decreases and that
is why, it affected the supply rate of SME as well.
Research Methodology:
Research type: For the present study, quantitative research type has been adopted that
helps to meet the defined aim of a research. Here, numbers, facts and figures has been used in
order to determine the results pertaining to chosen aim.
Data collection: There are two types of data collection i.e. primary and secondary where
only secondary data collection methods has been adopted. In this, only official sites considered
and relevant books and journals chosen in order to generate the best outcomes regard to chosen
aim.
data analysis: In order to present the data collected from ONS, thematic data analysis has
been used where different graphs and charts used to present the findings that helps to meet the
defined aim. Through this, data can be interpreted according to themes so that impact of covid -
19 can be determine upon SME sector of UK.