The last month has kept people, governments and markets alike on the edge of their seats. News about the efficacy of late-stage trial vaccines from Pfizer and Moderna have brought back hopes that a life without the pandemic does not constitute wishful thinking. In a world where the normal duration of vaccine trials is 10 years, releasing an effective vaccine in less than a year represents an astounding achievement for the medical community. Now that we can put vaccine discovery behind use, vaccine production and distribution seem to be a non-problem. Is that it though? Well, not really.
With a recent report in the Guardian claiming that 1 in 7 businesses have ‘low or no confidence that their business would survive the next 3 months’, it seems there may be tough times ahead for businesses, still reeling from the effects of prolonged periods of lockdown.
It doesn’t come as a surprise that the most vulnerable businesses are SMEs. According to the Federation of Small Businesses , there were 16.8 million people employed by SMEs in the UK, making up 61% of the total UK workforce, generating a turnover (i.e. sales) of £2.3 trillion, which makes up 52% of the total turnover in the UK private sector.
Which UK, EU or US SMEs do you believe do particularly well despite the fallout from the pandemic?
*In your opinion, what UK, EU or US companies don’t stand a chance of survival over the next 12 months?