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SMB Data from the UK: How bad are things, and how much is incoming dropping?

News from the UK, quoting Computer Weekly: “Findings in the latest SME Finance Monitor indicate that three-quarters of small and medium-sized enterprises (SMEs) have been negatively affected by Covid-19, with 35% saying things have been really tough.

When asked, 40% of SMEs felt the worst was still to come, although the number of those that expected income to drop by half or more had reduced from 60% in the second quarter to 30% in the three months from July to September.”

Why do we care?

British listeners care because this is their data set, and American listeners care because our friends across the pond have a similar situation to ours.    This lines up with all the data I’m seeing consistently on the SMB marketplace.

The consistent stories – bigger companies are doing much better than small during this time.  That means we should ignore both Big Tech AND big vendors who talk about their stability when trying to measure how service providers customers are doing.  As a provider, one doesn’t really care if your vendor is doing well if those who write you checks are struggling.  

We’re not out of this yet, and we’re not going to be for a while.  Strong leadership will survive and thrive, so manage to the storm. 

Source: Computer Weekly