Covid-19 pandemic cost hair & beauty pros ‘over £11,000’
By Chloe Randall | 14 April 2021 | Movers & Shakers, News
A report by Simply Business has found that since the beginning of the pandemic, hair and beauty professionals have lost £11,603 on average in earnings.
Despite the hair & beauty industry reopening again in England, it has been anticipated that losses will continue for some time and will eventually cost them £12,801 in total.
In total, 85% of hair and beauty professionals had to temporarily stop trading during the pandemic and 9% have permanently shut down their business, with only 26% of businesses eligible for furlough.
The research also revealed:
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Over 99% of hair and beauty professionals expect their business to survive past 2021
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There are just as many hair and beauty professionals planning to start a new business as there are who said they’ve permanently ceased trading
While the pandemic has been difficult for small business owners, hair and beauty professionals revealed how they’ve spent their time during lockdown:
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62% spent more time with family where possible
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35% used the time to focus on themselves
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34% rested
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20% used the time to learn new skills
“Against such a tough backdrop it’s inspiring to see small business owners display such resilience and this is especially true for the hair and beauty sector where almost every professional, whether mobile or in a salon, believes they’ll operate beyond this year. So as hair and beauty professionals reopen their doors, there are reasons to be hopeful – including the end of lockdown DIY hair and nail treatments!” commented Alan Thomas, UK CEO at Simply Business.