The shock of Covid-19 on business in Richmond has been laid bare in a new survey.

Impact on cash flow, falls in customer demand and meeting fixed costs were the main issues raised by more than 200 businesses in a Richmond Council survey.

Launched in July, the survey aimed to identify the support urgently needed by firms affected by the pandemic.

The council's lead member for business, Cllr Richard Baker, said the council will launch a new support programme this Autumn which focuses on start-ups and early stage business.

"The long-term economic impact of coronavirus will not be known for some time, but it is clear thousands of businesses have been affected and the knock-on impact on employment could be felt in our borough for years to come," he said.

Survey findings

Shops and businesses across Richmond closed for many months in March when a national lockdown was imposed.

As a result, 91% of the businesses were financially negatively affected with 63% having to furlough staff.

The survey also showed that businesses in Richmond have been taking the initiative and using the support provided.

• 57% said they used the government's furlough scheme
• 30% received a Business Rates Holiday
• 23% received a cash grant for the Retail, Hospitality and Leisure sector
• 31% got a Small Business Grant.

Additionally, many have taken proactive steps to manage relationships with existing customers and suppliers, or explored opportunities to adapt and diversify.

Some businesses also said they have successfully adapted to remote working during the crisis and used the pandemic as an opportunity to diversify their company.

Cllr Baker said: "The council continues to support local businesses. We have been providing ongoing advice and support throughout the pandemic, we have been proactive in making payments for grants available as quickly as possible, and we have now launched our Shop Local campaign to encourage people to return to their local high street.

"The information gained from this survey is vital to ensure the council and other organisations continue to support our businesses.

"The long-term economic impact of coronavirus will not be known for some time, but it is clear thousands of businesses have been affected and the knock-on impact on employment could be felt in our borough for years to come.

"The information provided by the survey will help us in future talks with Government about what help is needed in Richmond and help us develop an appropriate response to local business support needs.

"To support businesses in the immediate future, the council will be launching a new business support programme this Autumn with a focus on start-ups and early stage business.

"There will also be a specific focus on those sectors badly affected by the coronavirus pandemic, providing access to professional advice for key issues emerging as critical to business survival and growth."

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