London Chamber of Commerce and Industry (LCCI) – Covid-19 London Business Survey

New figures shine a light on the impact of Covid-19 on the London’s businesses, including the use of the furlough scheme and the ongoing threat of redundancies.

• 28% of London businesses have furloughed at least one member of their staff.
• A much higher share (64%) of larger companies (10+ staff) have furloughed at least one employee, compared to 24% of micro firms (1-9 staff).
• Among the 35% of business leaders of firms that have furloughed or plan to furlough employees, 23% of this group said that unless their business’s conditions improve by the end of the scheme they will have to lay off all furloughed staff.
• 39% of those that have furloughed or plan to furlough employees said that unless conditions improve by the end of the scheme they will have to lay off some furloughed staff, and pay the wages of those who are retained themselves.

Date Published: 22/06/2020

Categories: Business | Economy | London | Public and communities

Client: London Chamber of Commerce and Industry (LCCI)

Methodology

Savanta ComRes interviewed 500 London business leaders online between 30th April and 2nd June 2020. Data were weighted to be representative of all London business leaders by size and broad industry sector.

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