The number of employees on company payrolls in the UK has fallen by 649,000 from the start of lockdown in March until June, official figures just published have indicated.
According to UK Government figures from 2019 the percentage of UK employment in SMEs is 60% of the total UK employment. This equates to 389,400 less employees working at UK SMEs in just 3 months.
Many economists have stated the figures aren't as bad as expected and this is just the start and the full effect on employment will not be felt until the furlough scheme ends in October.
With over 80% of SME Club members surveyed recently stating the £1000 bonus scheme announced last week by the UK government as not being enough to retain staff, it is very likely that this figure is set to rise when the furlough scheme does eventually end.
The SME club members surveyed where small business owners across the UK, working in a variety of sectors. Out of the business owners polled only 20% thought the grant would make a difference and might save some jobs in their companies. 38% of business owners polled said 'no' the grant would not help them save any jobs and a further 39% said it simply wasn't enough. 3% of business owners thought it may help but weren't sure if it would actually save any of their employees jobs.
The SME club has been campaigning to help small business and directors of UK SMEs. Our members are offered support, advice, experts and discounts from suppliers to help them survive this pandemic. The club also helps SMEs by promoting members across the network to increase contacts and clients.