The Covid-19 pandemic has stopped a lot of businesses from getting better, which could have resulted in that one business losing out on a lot of money and or losing their business due to the virus causing so many issues for them. Some issues could come from the infection rate as others could have come from no one going back to the business after lockdown was over.
Since the start of the pandemic, the UK has reportedly lost 819,000 paid jobs! The unemployment rate rose to 4.9% in three months and the total number of people that ended up losing their jobs was up to 1.7 million! With this in mind, redundancies have also hit an all-time record alongside this as well!
The biggest decline has been hospitality, this is due to Boris locking the country down which resulted in hotels and more to close, and even when Boris announced the UK to come out of lockdown, they were unable to open for a few more months due to the infection rate still being high and how easy it is to contact coronavirus.
