The UK is in recession, high-street stalwarts are collapsing and starting a new endeavour has never been riskier. But not everyone has been put off – here are some who are unexpectedly thriving
It has been a rough year for all of us, but for small-business owners it has been a bloodbath. Research from the Federation of Small Businesses found that 41% of small firms had closed temporarily by the end of April this year, while 24% of those still trading had seen their turnover decrease by more than half. The UK is in the deepest recession since records began, with much-loved high street stalwarts including Laura Ashley, Debenhams, Accessorize and Cath Kidston collapsing into administration. And yet the outlook is not all doom and gloom for the UK’s 5.8m small businesses. We spoke to some of the small-business owners setting up shop during the biggest global pandemic for a century and thriving, despite the odds.
