14% of British enterprise homeowners have ‘low or no confidence’ they are going to survive the subsequent 12 weeks. Photograph: Getty

One in seven firms are involved that they’re liable to collapse within the subsequent three months, in keeping with the Enterprise Impression of Coronavirus Survey by the Workplace for Nationwide Statistics (ONS).

The survey discovered that 14% of British enterprise homeowners held these fears, saying they’d “low or no confidence” of their survival over the subsequent 12 weeks.

Throughout all industries, 7% of companies stated they anticipated to quickly or completely shut a website within the subsequent two weeks, together with amongst 25% of lodging and meals service companies.

Purchasing footfall in Scotland, Northern Eire and English areas additionally noticed a decline, in keeping with the ONS. Whole on-line job postings noticed solely a slight improve to 68% between 6 November and 13 November 2020, as in comparison with the 2019 common.

These figures all level to sluggish financial progress for the UK economic system, amid additional lockdowns and rising COVID-19 case numbers and fatalities.

The ONS estimates that 9% of the workforce was on furlough throughout the two weeks to 1 November, together with 34% of individuals within the arts, leisure, and recreation.

READ MORE: European markets open weaker as COVID-19 instances and fatalities preserve rising

The UK authorities has been making an attempt to maintain the economic system afloat within the face of the pandemic. Earlier on Thursday, the British authorities stated it will give banks ensures on £65.48bn ($88.24bn) of lending to companies hit by the coronavirus as of 15 November. That’s up from £61.93bn a month earlier, in keeping with finance ministry knowledge referenced by Reuters.

Essentially the most good portion of the lending shall be to small companies. Banks will obtain a 100% state assure to assist them on the £42.18bn of loans which were made.

UK chancellor Rishi Sunak is predicted to publish grim forecasts for the UK economic system afterward Thursday that present the nation remains to be reeling from the pandemic, and can proceed to take action till the subsequent basic election in 2024, in keeping with the Monetary Occasions.

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