It’s not even 10am on Tuesday 17 March 2020, and it’s already been one of the worst weeks of business I’ve ever faced because of the Coronavirus. And I know I’m not alone.
Yesterday one of our major partners said they would no longer be taking new requests for the next two months. And then this morning another partner said they would not be able to pay their several past due invoices. So not only am I looking at a major decrease in revenue going forward, but the money I thought we had was never really there at all. And that’s just the tip of the iceberg, bills don’t stop because I’m not getting paid.
It’s been scary just how quickly all this has happened. Thankfully, I’ve got a little money saved up so should hopefully be able to ride it out, but I know so many other business owners aren’t that lucky.
Obviously, we all want everyone to stay healthy and avoid infection. And that should be the government’s top priority.
But the business impact from Coronavirus is also real and terrifying too. Especially for small business owners who’ve put their whole lives into their businesses and could see it go away through no fault of their own.
Talking about it has made me feel a little better, so if you’d like to share your story please feel free to do so below.
– Ian, founder of British Business Energy
Marianne says
We are due to open a coffee shop in the next three weeks! We run a catering company which has been established for a year, all orders we had for this week have been cancelled, some for the next two weeks. Some of our private events have moved from April to August already.
Both of us working for our company is a terrifying time right now having our all of our money back into the business we are now at the point of not knowing what to do for the best.
Keeping ourselves and customers safe is a priority, however I can’t help but wonder if we will have customers in the next month!
British Business Energy says
Thanks for sharing your story. I can’t imagine what it must be like working in the food service industry right now.
Mohammed says
Exactly in the same boat, I may have to work double shifts just to survive, provided that the restaurant I currently work in don’t decide to close or lay me off due to lack of business. I’ve been granted permission to open a café yesterday and also just got a house which needs stripping back to brick and redoing. In a hell of a pickle if the café can’t produce the income I know it has the potential to.
hazel robinson says
we are a second generation family business trading within the amusement trade for the best part of 46 years.
We are working out the plans to go forward but without a crystal ball it is very difficult to calculate what will happen over the next 12 weeks.
this morning customers are cancelling their machines and giving us update on the income from their sites and it isn’t looking great.
we have to consider our staff, customers, suppliers and most importantly every ones health and well being.
we have had to deal with so much with the economy over the past few years and never in my dreams did I ever imagine the world to be hit like this.
I have to say just talking is helping but I wont lie I am very concerned.
British Business Energy says
I think not knowing what’s going to happen is the worst of it. Just feels like the bottom has fallen out from the market. And I agree talking about it isn’t really going to solve the underlying concern.
Jonny Aldis says
We are publicans and the Prime Minister has effectively closed us down without officially saying so- we will have no recourse to our insurance company because it’s not official yet. We are worried. Our staff our worried. Our families our worried. Unlike the governments in France or Germany, we are left with no guidance from our “leaders”. This may very well be the end of cosy pubs as we know them- especially if the virus remains-appears in the future. We face extinction and a change in the perception of our industry. We have gone from social hubs to social deserts. There will be a lot of serious consequences to individuals and the social fabric of this country and the world.
As we have no trade at all it is highly unlikely we will be able to pay our utility bills. In this case companies will face the prospect of cutting off our supply and naturally will risk public opinion changes reflecting those decisions. We expect slot of serious mental health issues to arise from our governments lack of care and reassurance at such a worrying time.
British Business Energy says
The pub on my local high street is still open, but imagine it will be forced to be closed down in the next day or two. Been a very tough time to own a pub too, so this is the last thing the industry needs. Just curious if you have a specific insurance policy that pays out when the government forces a shut down?
Jak says
It’s been pretty dismal for my line of work in construction, we run a property maintenance business through out scotland. All my clients have cancelled losing revenues upto £4000 for this month, one client has not paid due to them not earning anything. I’m a small company with only one employee so at least theres not lots of lads out of work however it still leaves me and my employee short. There is sadly nothing in place for small business owners to help them through this crisis. Nothing in the bank and if it dosent fix with in a month or two I dont see it being much of a business after that as tools will need to be sold to keep payments up.
British Business Energy says
That’s very tough. I was going to start hiring this year, but obviously put things on hold. So at this stage just glad I don’t need to worry about feeding anyone other than my own kids.
Sarah Chard says
I have a laundrette business. This is my second brand new machines, washing and drying. Had massive issues with gas being supplied and to top it off, I was connected to a “dead” pipe on the 13.12.19, which my plumber identified on 24.01.2020! I have used every single penny ensuring all safety aspects are met. Now I am at the end of my tether as when I approached my local authority iro the chancellors decisions for small businesses to have relief , I was told “It only applies to England at the moment???” Really? I am not alone whilst I type this and Coronavirus could probably destroy what was once a busy laundry room
Gary Townend says
Well good old Boris has done it again.
We bought a small village pub / restaurant in September 2019 which is popular with walkers and cyclists. The business has just about been ticking over during the quite winter months and we were looking forward to trade picking up in the spring / summer. With the Government issuing such a damning statement for people to stay away from pubs / Restaurants they might as well just put a gun to my head and pull the trigger. What little surplus income we had managed to build up has had to be put back into the business to keep us trading. Takings for last week alone we 30% down and with this announcement yesterday we envisage them going down even further.
Jonathan Barker says
Those lucky enough to have a pension, but are under 55, should be able to get at it without any fines or taxes being applied…immediately!
Colin Thompson says
In essence Boris Johnson has capitulated to the insurance industry by not enforcing a shut down.
We have a 22 bedroom hotel in the Highlands are were looking at a bumper summer, high level of bookings and really improving our financials quiet dramatically.
I woke up to 22 emails in; 3 sales pitches and 19 cancellations.
NFU, my insurance company, confirmed that I am covered in the event of a full government shut down, but not until that is announced. I can make wages this month but after that what do we do?
20 jobs.
20 rents and mortgages.
All on the line here.
Kim says
HI
I am insured with NFU and have been told we’re not covered (we are a B&B).
The email says:
Unfortunately there is no cover even if the government forces you to close. There is a lot of misinformation being circulated via the press about businesses being covered if the government orders them to close. However in reality, I have heard of 1 insurer (who is not well known) who’s wording was slightly different to all others which has allowed businesses to claim for lost income up to a minimal amount (around £10,000). However, they have now changed their wording for new customers to exclude all claims as a result of coronavirus and will apply the exclusion at renewal as well.
William Curtis says
I have a pub/restaurant. We have been riding it out pretty well with only a small dip in trade but not to the point that its a problem. We have now seen the government tell customers that they “Must avoid” hospitality businesses yet they have not instructed us to close which means we are stuck in limbo. I want to close, as does everyone i have spoken to in our area, however, individually we are not able to run the risk of having one or 2 establishments remain open.
The government MUST enforce closing hospitality businesses so that there’s a level playing field and we can take measures that allow us to mothball our businesses. If this does not happen and creditors, mortgage companies and lenders are able to force bankruptcy, its game over.
john hill says
So true gov need to tell us to close I have seafront kiosk and we have 75% drop in footfall not going to survive without help
m potts says
Have you tried asking for delayed payments most banks and mortgage’s do not wish to see business fail offer to pay a little more when this is over GOOD LUCK.
Hemal Patel says
I run a community local sports based pub. We all know that all the sporting event currently suspended so the effect is huge for my business.
I understand people’s safety always a 1st priority.
But same time SKY AND BT refuse to make any refund. They charging same money. (fact is we pay month in advance as well , 1600 a month all together).
Also last night boris announced that stop going pubs and bars but he didn’t say we asking them to close. By that they don’t have to pay any compensation. Very clever move.
I already placed my order to brewery yesterday as we tied up and delivery is due on Wednesday.
Now imagine if they make us fully shut by thursday or friday then who will pay for the stock in cellar. Almost worth 6K. The barrels will be expire as it only have 4-5 weeks self date.
I hate the Government move like making calls over night.
If they tell us we will be asking you to fully close next week then we know how to place order or how to cut down stock, make a plan.
Brewery will be still charging their rent everyweek.
Where would that much money will come from if there is no trade?
Andy Travers says
We are a very large Vape store in the UK. As you can imagine we have been hit tremendously by this virus. Our turnover is down about 60%.
About a year ago we invested heavily in an inline vape store and thank god our customers are going there to buy the products they need. We have decided to do free delivery whilst this virus is still around. The best thing we ever did is start the website.
Kim says
We own a small B&B and 2 x holiday lets. Overnight we have seen over £10,000 of cancellations into June. No prospect now of even Uk holiday makers. I still have a mortgage, rates, and live in staff to pay, plus commissions to date and utilities.
What is irking me is that those that made the decision…are TAX payer funded and won’t see a penny difference to their monthly salary during slow-down or isolations. Nor will news companies or the BBC who have whipped everything up into a frenzy. They will still expect their licence fee!
Not a single Tax-funded employee will lose a penny.
That doesn’t seem fair when we will have NO income for the foreseeable future but still have bills to pay.
ALL tax-funded employees over a certain salary should have their pay reduced by a percentage during this time to help fund those of us who generate the tax for them to be paid.
A petition perhaps?
Ilina Mollova-Dimkina says
Me and my husband run a small catering business through a limited company. We are heavily reliant on Food Festivals,markets and him working as a relief chef with local Agency.
Events we have already booked in are cancelled.All my husband’s future assignments with the Agency are cancelled too. We are left with no future income.
What do we do now?
British Business Energy says
Have to hope the government steps in, in a big way soon.
Paula Thomas says
I have read some of your comments and the uncertainty of the support or any you will receive from government or insurer, would drive any sane person crazy. I sell online and people are only bothered to buy food. So I’m not making anything.
I have one outrageous suggestion for local pubs. Shut your doors and put a notice on it to offer a delivery of both food and drink to homes. You may have to distribute flyers. The only worrying thing is those who pay cash. Not sure how you would collect and maintain the 3m distance. Any other suggestions?
Positive feedback is so important now as to how we can find other ways of making income. As business people we are innovators and leaders. We need to fight this!
Ian says
I have run my cafe for 9 years and my wife runs our other cafe and has been for the last 6 years . At the weekend we worked out our household has £1600 of monthly direct debits and facing complete shutdown because of the virus we face absolutely no income from anywhere. What is the government going to do for us and every other self employed person. Bet the business folks close to boris don’t suffer.
Kim says
You are right…nor will any tax-funded role suffer…just us workers who provide the tax money for the government.
Every politician, MP, council worker, civil servant…will get full pay, and no doubt full pension contributions while the ones who generate the tax income to pay them go to the wall.
Every tax funded employee over a certain threshold should see a cut to their pay to be shared with businesses going under.
Jeremy Corbyn will be on full pay!
Solidarity comrade!
Inge says
We are a brand new food business only trading shy of a year we are ment to open our new fixed site Cafe in the next couple weeks and rely heavily on Events for our annual income. With it being a new business we have loads of direct debits going off our account. This is such a scary time.
m potts says
You could try making meals for the public and delivery local it may help GOOD LUCK.
Claire says
I am a tailor, a local ethical tailor in London and have been hit hard with no clients coming in over 3 weeks. I do teaching tailoring / sewing skills and they had been ticking over but now that has totally stopped. I sit here in my studio empty of all the other business owners and am wondering what is next, I have no idea how to get hold of this grant funding for small businesses. I have rent and bills on a flat and the studio plus food to buy, yet I do not know how I will pull through as a business since it has been said this could go on for months. I have been told of vaccines being discovered so hopefully the world will pull through soon enough. X
Gary Mcgrath says
I called my insurance to explore a claim under a loss of income from my shop policy as it states I have cover for any losses for enclosed closure due to notifiable infectious disease at the premises.
Well the response from Henry Seymour was I am not covered because coved 19 is cot a virus or a disease but a peril and therefore is not covered.
Gary @ cadshull
m potts says
Hi We are a caravan Touring and Fishing lakes Park Walnut Lakes Lincolnshire and was really looking forward to this season we have won the Top 100 listings again this year Had to stay closed for the good of the Public because they would have come and we did not wish to encourage it during this very sad time. It will effect us but hope to see healthy customers very soon. my advice to all is STAY SAFE. that is the most important thing and hopefully we can all get through this. GOOD LUCK.
shazia mehmood says
We are a small indian sweet shop/ cafe, we rely on the month of ramadan (end of april to end of may this year), to boost our revenue and it provides very useful savings to back us up during the rest of the year. I have already been informed that some of the items we use/sell may not be available. Raw material prices have shot through the roof, and that’s when anything is actually available. I cannot plan ahead and start preparing certain items as I dont even know if we will be allowed to stay open. I have already reduced staff hours because we are so quiet, they have bills to pay too. its an extremely worrying time. And that is on top of the illness aspect of the whole scenario.
Jayne says
Hi I have a shoe and fashion shop and like the rest of you the media have caused so much unnecessary hysteria without thinking about the impact on small businesses they don’t care because they are getting paid regardless. The virus will peak and spread whether people stay in or go outdoors, people still have to move around if only to go to work or get food from the supermarkets. My business has been affected badly and I’ve had to cancel most of my AW20 orders as I will not have the money to pay for them. As for the orders coming in now I will have to cover using my personal credit cards and my pension and lay off my sole worker. I wonder if anybody from the media wants to chip in some of their pension (I think not). Flu viruses in the winter cause thousands of deaths particularly with the elderly but there is hoo haa about that. The corona virus is a nasty virus but will not kill the majority of us just like other flu viruses and I know I am not the only person carrying on life as normal. Funnily enough I’ve been told the Chinese economy is booming!!
Good Luck to you all and hope you ride the storm without too much damage
Jon Hayward-Wright says
I read these comments and could copy and paste exactly the same from Australia!
It’s becoming clear as we live this horrific scenario that governments are not prepared for any sudden shift in the accepted, expected environment. The western capitalist structured financial model is really only a “good time” girl. When things unravel it reverts to “ dog eat dog” and the average person is left to survive or fall on there own efforts.
Those who will survive must not let those who fall, fall for nothing, there must be a rethink of the global capitalistic model. If this does not happen, we are condemning our children and grandchildren to the same, but most likely even worse scenario than the current one.
The current events were not unexpected! If you read some of the post GFC economic reviews they say that a major correction in financial markets will happen in the 10-15 window, some even identified that the trigger would not be financial but another global event, like war or pandemic!!!
Paul Palmer says
I run a business where I have to go into peoples houses now my work has reduced to nothing there is going to be no help with utility bills and mortgage for the self employed from the government. If this carry’s on and it gets to the stage where money doesn’t work to buy food there’re be riots and looting within next two weeks by normal people just to get food. Once Petrol Diesel delivery’s get stopped thats it mad max world fight to survive What the hell are the government doing yet again nothing
Jayne says
Paul
I agree there are sectors of the community that need to take extra precautions, the rest of should just carry on as normal we may get the virus but its not going to kill us. Bankrupting people will have a far greater effect.
The world has gone barking mad fuelled by our stupid, idiotic media that our government feel they have to pamper to.
Keith says
I have recently built a new block of holiday apartments, it was doing fantastically well , this week at the start of Coronavirus I’ve lost 90% of my room bookings, and because I’m old, I’ve been advised by the government to stay at home, where next? By being made to stop at home like other countries or total closure, my bills won’t pay themselves. Even the lack of essential supplies is making it hard to run my business through idiotic morons stock piling. Once again the only people that won’t lose out are banks, local authorities, and bailiffs.
Regards
Kieran Barry says
I run a tour bus rental business. We rent to music bands and production teams.
Last Thursday this stopped overnight. No gig’s no festivals no money no business.