Almost three in five startups and growing businesses in the Cotswolds are at risk of failing due to the coronavirus crisis, new research shows.
That is according to a study of almost 30,000 new and growing businesses in the UK by analyst Beauhurst.
Beauhurst analysed various factors to determine the risk facing each business, such as whether their premises had been closed, social distancing had prevented them providing a product or service, or they were having to offer their products at a reduced cost.
Of the Cotswold firms tracked by Beauhurst, 58 percent were classed as ‘at risk’ in April.
That includes 13 percent at severe risk, meaning they have suffered serious disruption to their operations, and 8 percent that were critical, and facing an “existential threat” to their ability to continue trading.
The remainder were at moderate risk – although that means they have still suffered disruption “beyond mere inconvenience”.
The data tracks start-up businesses alongside so-called scale-ups, which are established companies that have moved beyond their initial phase to focus on growth.
But some businesses could see a positive impact from the pandemic, if they are able to grow their operations or have otherwise seen a surge in demand, with tech companies faring particularly well.
In the Cotswolds, 11 percent of businesses fell into this category.