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Nearly 1 in 20 Small Firms Set to Close Due to Pandemic, UK Business Group Says
Nearly 1 in 20 British small business owners are planning to close their firms over the coming 12 months as a result of the CCP virus pandemic, a business group said on Monday.
In a survey of 1,400 small firms, the Federation of Small Businesses (FSB) found that just under 5 percent of the businesses expect to close this year.
If this proportion can be extrapolated to all the UK’s 5.9 million small firms, the country could be on course to lose more than a quarter of a million businesses this year, the FSB said.