IPIA reveals results of COVID-19 business impact survey

The Independent Print Industries Association and British Association for Print & Communication have been in close communication with The Department for Business, Energy, and Industrial Strategy (BEIS) to advocate on behalf of the UK print industry and provide its Intelligence Gathering Unit with information from the coal face of this sector in regards to the impact of COVID-19 and what thousands of businesses need in order to remain solvent and retain their staff.

BEIS has requested that the IPIA supply the department with information from the sector as to the immediate impact COVID-19 is having and what specific support is needed to prevent permanent and wide-spread economic damage. The Business Impact Survey was created in response to this call and it provides a cross-sectional picture of how the UK print industry has been affected by COVID-19 as it was answered by print supply chain businesses from sub £1m turnover through to £45m+. This survey has been processed by BEIS and its findings fed into the Government’s decision making process.

Highlights statistics from the survey include:

• 45% of respondents said they would have a cash flow crisis within one month.
• 45% of respondents said they were very concerned about the long-term financial implications of COVID-19 on their business.
• 28% of respondents said they currently have staff shortages due to self-isolation and sickness.
• 88% of respondents said a reduction in business activity will force them to send staff home/ reduce their working hours or make people redundant.
• 27% of respondents said they were currently experiencing problems with their supply chain.
• 24% of respondents said they had little confidence that they can remain operational throughout the pandemic.

To read the full survey click here.