Covid-19 caused steep decline in SME turnover – BoE research

SME growth

Small and medium-sized enterprises’ (SMEs) turnover was significantly impacted by the Covid-19 pandemic, according to new research from the Bank of England.

Using data to track the performance of over two million SMEs in the UK, a group of BoE economists shows there was a “steep decline” in turnover following the first pandemic shock in April 2020.

“Even by December 2020, the latest data point that we analyse in this paper, the average SME had not yet recovered fully,” note James Hurley

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.