BBC NewsBorrowing was £17.4bn last month, the second highest October figure since monthly records began in 1993.
Ahead of the Jubilee weekend, there has been a 70% surge in royal-themed small businesses. According to a study by Simply Business, the most common royal words used in small business names are Queen, Royal, Crown, Princess, and Regal.
Simply Business CEO Alan Thomas explains why the bank holiday could be a boon for small business following the pandemic.
“This year’s additional bank holiday comes at a pivotal moment. Independent retail, hospitality and leisure businesses have been disproportionately affected by Covid-19, losing a staggering £40,000 each on average due to the pandemic – almost double the £22,000 average losses reported by UK small businesses,” Thomas says, “With almost six million UK SMEs, contributing trillions of pounds a year in turnover, it is vital to the country’s economic recovery that they bounce back. This bank holiday could provide a substantial boost to small business owners across retail, hospitality and leisure, at a time when it’s needed most.”
East Anglia proved to have the most patriotic small business owners, with 14.7% of the national share of royal-themed business names. North West and North East England followed close behind, with 13.7% and 13.2% respectively.
https://www.simplybusiness.co.uk
