Business Impact Survey
Thank you to the 267 businesses who gave feedback in the Haringey Business Impact Survey. The purpose of the survey was to better understand the initial impact of the pandemic on businesses in the borough and inform our response to business support both in the immediate and longer term.
- The local Haringey economy is highly exposed to the impact of COVID-19. Over three-quarters of respondents have now closed or temporarily ceased operations, with 99% stating that they would need financial support between March and June
- Over three quarters of businesses (79%) expected to need financial support over the summer months to remain viable, either through additional grant payments, an extension of the Job Retention Scheme and SEIS, or alternative measures. A further 8% expressed serious concerns around their survival regardless of further financial support
- While most businesses stated that they were aware of the package of Government support measures (91%), only around three quarters of businesses expected to benefit from at least one of the supports
- Just under half of respondents believed they were eligible for a grant scheme, with clear gaps in support evident for shared workspace occupiers, suppliers of the retail, hospitality and leisure sectors, and businesses operating from premises above the defined rateable value parameters
- Around a tenth of suitable businesses intended to access the Coronavirus Business Interruption Loan (CBIL) and the Self-Employed Income Support Scheme (SEIS), echoing wider feedback around the limitations of these schemes (e.g. for self-employed workers who have only recently started to earn an income)
- There is a clear demand for other forms of support and guidance as we move into the post-lockdown period, including adapting to social distancing measures and moving to digital platforms
In response to this we are:
- Lobbying to national Government on behalf of businesses who do not sufficiently benefit from existing Government measures
- Providing the latest support and guidance to businesses via a dedicated support team and webpage, and working closely with our networks and partners to help their members
- Agreeing deferrals of payments to the Council on a case-by-case basis
- Publishing an online map of businesses who are offering delivery and helping those would like to offer this service
Download the Business Impact Survey results analysis (PDF, 137KB)
This is just the start and there is much more to do to support our business community to thrive post COVID-19. If you have any thoughts or comments you would like to share, please contact the Business Support team using the email address below.
Haringey Business support team
If you need business support or advice our dedicated business support team are here to help. They are working closely with trader groups and individual businesses to ensure they are aware of the latest support and guidance.
If you have a question, contact the team on email@example.com.
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