The fortnightly ONS survey on the business impact of Covid-19 found that many businesses had less than six months of cash reserves.
The survey found that of the businesses who had paused trading, 58% have less than six months’ worth of cash reserves, compared with 39% of those businesses who have continued to trade.
Overall, 4% of responding businesses had no cash reserves at all and 7% of businesses who had paused trading had no cash reserves.
Of the paused businesses looking to resume trading, 14% intend to start in the next two weeks and a further 10% in the next two to four weeks.
Of those firms looking to resume in the next two weeks, they expect that 31% of their workforce will be returning from furlough leave.
The Coronavirus Job Retention Scheme has been applied for by 79% of all responding businesses resulting in 27% of the workforce in these businesses being furloughed.
The ONS also reported a fall in the proportion of people in Great Britain staying at home (other than leaving for work, exercise, essential shopping or medical need) from 81% between 14 to 17 May to 73% between 21 to 24 May.
For those hunting for jobs the number of vacancies has declined with online job adverts shrinking by more than 50% from the start of March to the start of May.
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