February 21, 2014
One in four of the UK's smallest firms say they expect turnover to dip because of the recent floods, according to research from Enterprise Nation.
The survey also finds that almost one in five small firms expects to lose thousands because of the flood; and 32% say they expect the recent weather to have a "long-term impact" on their business.
Emma Jones, founder of Enterprise Nation, said: "Seeing your home submerged or without power is a terrible experience. But with 70% of all new businesses started at home, it's clear the extreme weather we're seeing will have a more profound impact on those who depend on their home-offices as a livelihood. For small companies just starting out, an event like this can be make or break."
The government has launched three small business support schemes to help firms that are struggling as a result of the weather. They are:
John Allan, national chairman of the Federation of Small Businesses (FSB), said: "Further financial support for small firms directly or indirectly affected is good news. With the floods yet to abate, we want the level of support to be kept under review. Firms in these areas will take months to get back on their feet, and may need further help."