Staff shortages due to COVID or self-isolation are also having an impact on businesses with 54% reporting staff absences during this period.
NHBF chief executive, Richard Lambert says, “There’s growing evidence that hair & beauty businesses are now on a financial knife-edge. They were relying on a good December for the cashflow to make it through the quieter months at the start of the new year, but instead they are reporting the lowest pre-Christmas trade anyone can remember, with the prospect of that trend continuing into January.
We’re grateful that the Government recognised the sector needed support by increasing the Additional Restrictions Grant (ARG), but these grants are unlikely to be enough to sustain many hair & beauty businesses. We’ve lost 15% of the sector to the pandemic already, and without urgent targeted support, we could lose many more in the coming months.”
The NHBF snap poll, undertaken via Instagram Stories over a 24-hour period from Wednesday 5th to Thursday 6th January, received more than 2000 responses.