Home Business News 1 In 4 small businesses are on ‘borrowed time’ and fighting to survive

1 In 4 small businesses are on ‘borrowed time’ and fighting to survive

by LLB Reporter
5th Feb 21 8:14 am

As the nation struggles through another lockdown, the national discount scheme, My VIP Card, has published new data showing the true and shocking impact the pandemic and national lockdowns have on small businesses across the UK. 1 in 4 small businesses surveyed revealed the terrible news that they are on ‘borrowed time’ and fighting to survive as the ongoing lockdown has either completely stopped them being able to trade or the impact has been so severe that they aren’t even covering costs.

A further 28% of businesses surveyed stated that the first 3 – 6 months of post-lockdown trading will be to pay off debt. The discount scheme is urging shoppers to remember and support local businesses during this Iockdown and to shop locally once the country reopens as it will be a vital period for so many shops and services in all our local communities.

The national discount scheme recently launched a national campaign,Everyone is a VIP to someone’ to support small business owners and raise awareness of mental health issues in the UK. Small business owners have had a tough year and the scheme has been actively supporting thousands of businesses through the pandemic by offering free membership and promotion to our national network of members.

Many local shops and services have adapted their solutions to offer online, click and collect or takeaway services and My VIP Card allows a ‘one stop shop’ to find all the amazing offers and discounts available in your local community and beyond. The national discount card gives local shoppers access to thousands of discounts, helping them save on average £500 a year while supporting their local high street.

Maddy Alexander-Grout, Founder of My VIP Card, added, “I have personally spoken to hundreds of local business owners since the pandemic started and many are really struggling to survive which is having a huge impact on their mental health. Having suffered from mental health issues myself I wanted to offer a solution that helped and remind everybody to check in and support people in their local community.

They all get a huge boost from connecting with shoppers and people in their local community and the more we support and give back locally the stronger all our communities will become. Remember ‘Everyone is a VIP to someone’.

My VIP Card is here to support small businesses across the UK by raising awareness and actively encouraging shoppers to benefit from local discounts. If you need support or know a small business that would benefit from becoming part of our network, then please get in touch.”

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