Assessing the Impact of Lockdown on UK Businesses and the Economy

This report examines the impact of the COVID-19 lockdown on businesses in the UK, analyzing the situation before, during, and after the lockdown period. The report highlights the challenges faced by businesses due to government restrictions, impacting manufacturing, transportation, hospitality, and other sectors. It discusses the negative effects on the UK's economic condition, including job losses and decreased productivity. The report also notes the adoption of new technologies and processes by businesses to manage functions and activities effectively during and after the lockdown, contributing to the gradual improvement of the UK economy. Government support through subsidies and reduced tax rates is also mentioned as a factor aiding business recovery and improving living standards. The report concludes by referencing several sources that further elaborate on the impact of the pandemic on various aspects of UK businesses and the economy.

As whole world faced the situation of Pandemic
(Covid-19) that has led to a dramatic loss of
human life and affected the business sector.
During Pandemic government has declared
lockdown where it became challenging for
organization to regulate its business. The
discussion of report is about business impact
during the lockdown in the UK, also consider
before and after.
During Lockdown – Lockdown has impacted
businesses negatively as government put restriction
to operate their business from workplace that
directly affected manufacturing, transportation,
selling, marketing, hospitality industry, shopping
malls and others. No one is allowed to go in other
location where it became difficult for offline
businesses to operate their business. The statistics
states that it also impacted on people wellbeing
such as furlough, finances, work stress, and job
security that affected their daily life in UK. The
economic condition of UK decreased during
lockdown and people were losing their jobs. The
providence of the 48% of UK workers who work
in small businesses is closely tied to the resilience
of the small business ecosystem to the massive
economic disruption caused by the pandemic. Only
55% businesses have used new technology while
working such as work from home, and any time
work with the help of system that supported some
employees to continue their working and develop
the economy.
Due to COVID-19, Millions of businesses
faced an existential threat as their business
activities has been reduced. The death rates
during the situation increasing day by day that
affected the business negatively. This affected
the organizational productivity as well as
performance. The impacts of business before,
during and after lockdown is defined below:
Before lockdown- The businesses was running
effectively in changing environment before the
situation of pandemic as it brought changes, new
trends and lifestyle that followed by people and
lived happy. This contributed in economy of UK
as many small, medium and large businesses
established by understanding the demand of
customers that supported to become a developed
country. Before lockdown, there were many job
opportunities for people who performed well by
using skills and abilities. The market condition
was good and business concern was planning to
establish their own business or grow it in other
location that could help to improve business
productivity.
Impact on Lockdown on UK businesses
INTRODUCTION

Figure 1Impact of lockdown in UK businesses
Source: Impact of lockdown in UK businesses
After lockdown – The findings of survey
reflect that pandemic created huge operational
and financial challenges for UK businesses.
The situation comes to under control after
lockdown as new technology is used by
businesses to gets work continuously. The
small, medium and large size business bring
the use of new process and technology for the
purpose of managing all functions and
activities. People is getting many job
opportunities and performing well by
managing all functions and activities
effectively. The economy of UK is position of
improvement where business industries
understand demand and provide the products
and service accordingly which supports to
develop the country. The government also
proving subsidy to businesses by reducing tax
rates, interest rate and inflation that helps to
increase buying power of people and improve
their living standard.
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