Hodge Research Group’s Coronavirus Impact Survey Responses

Last month we sent out a questionnaire to 74 firms and asked them about their experiences during the lockdown. We had a good response rate of over 35% and some responses are still coming in. We are proposing to follow this survey up with a longitudinal view of the effects that the pandemic has on business over the next 12 months.

Firms Operating

The headline figures are that 35% of respondents remain fully operational and conducting business nearly as usual. 46% are partially open with reduced workforce, while 12% have temporarily shut down all operations.

Furloughing

Nearly 60% of firms have furloughed at least some of their staff.

• Full staff numbers working as normal: 31%
• Some staff furloughed: 54%
• All staff furloughed: 4%
• Full staff numbers but working at reduced capacity: 12%

None of the respondents said that they have made anyone redundant during the lockdown.

Government Assistance

70% of firms have applied to the government for some form of financial support. Most of the ones that did (62%) had found the process of getting the support straightforward, although some 39% had found some difficulty or had no success.