UK small business recovery continues in September

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View photosSmall firms in the leisure and hospitality sectors saw a slowdown in activity, according to a survey. Photo: GettyMoreThe recovery among UK small businesses continued to grow in September amid a boost in consumer spending and active housing market, according to the NatWest UK Small Business PMI.The data also showed a significant shortfall in output compared with pre-coronavirus levels and a subsequent need to cut costs. This saw job losses continue to rise for the seventh-month in a row as the performance gap between small firms and large companies remains.NatWest’s monthly survey reveals that some small companies showed a desire to retain skilled staff where possible as the pace of job cuts eased. In comparison, larger firms reported a higher rate of job cuts.While respondents noted an uptick in business and consumer spending from the record downturn in spring due to COVID-19, small firms in the leisure and hospitality sectors saw a slowdown in activity. This was due to tighter restrictions in trading as part localised lockdown rules, such as 10pm curfews and the end of the Eat Out to Help Out scheme in August.READ MORE: One in four UK firms stockpiling for Brexit …

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