More than half a million small businesses in the UK have been forced to halt trading at least temporarily due to a disruption, according to 2016 research by small business insurer Direct Line for Business. The length of the shutdown lasted, on average, more than three months. The average cost of keeping a small business afloat whilst unable to trade for a month is around £20,000 and one in five small businesses believe that they would not be able to survive if they had to suspend trading for more than a month.
The most common impacts of an interruption in trading for small businesses are reduction in profit (48%), reduction in revenue (42%) and loss of customers (39%). This led to 32% of business owners having to invest additional personal money into the business to keep it afloat.