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Many SMEs remain confident of staying in the black despite COVID

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Two fifths of UK small and medium-sized companies expect to remain profitable or break even in 2020 despite the impact of the coronavirus pandemic, a survey has found.


Of the 40% of companies that do anticipate making a loss this year, many are optimistic about returning to profit, according to a poll of 306 SME owners commissioned by MBH Corporation Plc (FRA:M8H).


The remainder were less confident about what the future had in store.


Some 57% of the SMEs are confident they will be back in the profits by 2022 and just under half of those expect a return to profitability as soon as next year.


Callum Laing, chief executive officer of MBH Corporation: “Despite the challenges, small business owners are an optimistic lot when it comes to the future.


“Although never easy, many of the businesses we talk to have survived the global financial crisis and other downturns and are confident they will survive this too.”


Laing added: “As a publicly listed holding company of SMEs, we know that there are many attractive and well run companies out there.”


MBH, which looks to acquire well-established profitable companies still run by their founders, commissioned the research company Consumer Intelligence to interview 306 SME owners and senior executives/managers in the UK between August 21 and 23.

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