More than 40 per cent of businesses in Yorkshire and Humber have told how coronavirus has had a catastrophic impact on their operations.
A total of 42.5 per cent of respondents to Business Live’s Great Big Business Lockdown Survey told of the chaos the pandemic has wreaked, with a similar number closed for the period - highlighting why the figure was so high.
More than 30 per cent were trading at substantially lower levels than normal - and only 6 per cent seeing improvements.
Decisive action had been taken, with more than 55 per cent of those completing the survey telling how they had furloughed workers, with one in five at a staggering 75 per cent.
And almost 40 per cent said they did not know whether they would bring the employees back into the business before the scheme ends in October - though most agreed it was the right time to close, with 48 per cent thinking support has been appropriate over 32 per cent saying it was too little.
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Saving up for the annual festivities isn’t without complications either, as 31 per cent of the 167 companies responding told how temporary pay cuts had been brought in, with 38 per cent hitting senior executives. Almost a third have cancelled or cut dividends and bonuses.
With furlough still open the full impact on unemployment is yet to be seen, but 15 per cent have already cut head count, the majority at 10 per cent or less of the overall staff numbers.
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Looking ahead, and almost seven in 10 companies felt confident about surviving the outbreak, with less than 2 per cent stating they were taking steps to close down. A total of 29 per cent expressed concern about the future.
Footprint changes were not clear as yet, and there is reluctance to make working from home a norm, with more than 50 per cent stating it wasn’t a possibility. Less than two in 10 will consider encouraging it.
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On the scale of the recovery, 42.2 per cent of people said they think it will take their business more than a year to return to 100 per cent of its pre-coronavirus turnover, and 15.6 per cent said they think they will never get back to that level.
Almost a quarter of respondents are anticipating it taking six months to a year, with 13 per cent highlighting no negative impact.
BusinessLive editor Alistair Houghton said: “The pandemic and resulting lockdown have had a massive impact on businesses across the country, as shown clearly in the results of our Great Big Business Survey.
“Companies have been forced to close or furlough staff, while many say they will find it hard to adapt to working from home.
“But across the country, a majority of businesses were confident they would survive this crisis.
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“Today is #IAmOpen day as many firms across the country will be reopening. Small firms are at the heart of our economy - and they need support from national and local government as they get back on their feet.
“They need clear guidance on issues like social distancing, the future of the furlough scheme, and support for the self-employed.
“Here at BusinessLive we’ll keep fighting for Britain’s businesses, and we’ll keep telling their stories as they power our economy ahead. If you’ve got a story to tell, let us know.”