HomeInsights‘Pingdemic’ to cost some small businesses £10,000

‘Pingdemic’ to cost some small businesses £10,000

The so-called ‘pingdemic’ is set to cost more than one in 10 small business owners (12%) £10,000 in lost revenue due to staff shortages and enforced closures.

This is on top of an average expected loss of £22,461 caused by the Covid-19 pandemic.

A Simply Business survey of over 500 small business owners has revealed the expected impact of the ‘pingdemic’ on staff levels and economic recovery.

A recent dramatic rise in NHS Test and Trace alerts forcing people to self-isolate created significant problems over the summer for many small businesses trying to recover from the impact of the pandemic.

It led to many small business owners having to close temporarily due to staff shortages and resulted in lower levels of trade, as many customers were also self-isolating.

The survey also revealed that:

  • 74% believe the NHS Test and Trace app had/is having a negative impact on their recovery.
  • 16% were forced to stop trading for a period as a result of the ‘pingdemic’.
  • 32% of small business owners were directly impacted by the ‘pingdemic’ – having either been ‘pinged’ themselves, or had reduced staff due to self-isolation.

Alan Thomas, UK CEO at Simply Business, said: “Making up 99% of all UK businesses and contributing trillions of pounds to the UK economy, small businesses are central to our collective recovery. Put simply, we need them to bounce back.

“It’s important to remember that behind every small business is a small business owner – many of whom have suffered both financially and mentally over the last 18 months.”

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