The future viability of smaller firms has been brought into sharp focus as the pandemic continues, finds ACCA’s research report ‘Covid-19 global survey: inside business, impacts and responses’.

The research shows the severity of the pandemic’s effects, with continuity planning falling short across all sectors.

The global survey of over 10,000 ACCA members and stakeholders working in a wide range of organisations reveals the outbreak is particularly challenging for smaller organisations compared to their larger counterparts, with all sectors reporting distinct concerns about cash flow and growth.

Small businesses have a more pessimistic view than the largest organisations when considering both revenue and profit, compared with the previous financial year. Among business leaders of the smallest organisations, with fewer than 200 employees, 85% expect year-on-year revenue to be lower than the previous year, and 86% expect year-on-year profit also to be lower.

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