Britain is facing its worst jobs crisis since the pandemic began, with 163,000 positions cut in recent months, according to new data. The grim figures underscore the deepening economic toll of Covid-19 and renewed lockdown measures.
A survey from King's Business School reveals that nearly two-thirds of entrepreneurs believe their business may not survive the pandemic. The study estimates that 6 million small businesses, supporting 16.6 million jobs, are in a financially precarious position.
More than half of the entrepreneurs surveyed predicted they would run out of money within the next 12 months. Meanwhile, two out of three small firms in a separate poll by the Federation of Small Businesses (FSB) said they expected trading to worsen, particularly in the run-up to Christmas and the end of the Brexit transition period.
Labour has criticised the government, claiming almost half a million self-employed workers have been left without adequate support. Chancellor Rishi Sunak recently expanded the job support scheme to cover a larger share of wages, but concerns remain over its effectiveness.
Businesses led by women have been hit harder, with 72% reporting lower trading volumes compared to 56% for male-owned firms. The FSB's Mike Cherry urged the government to ensure that support measures are straightforward and reach those in need swiftly.
