Beauty professionals have lost more than £11,000 in earnings during Covid-19
Since the beginning of the coronavirus pandemic beauty and hair professionals have lost on average £11,603 in earnings and, despite reopening this week (in England and Wales), many anticipate that Covid-19 will eventually cost them (on average) £12,801 each in earnings in total, discovered a new report from Simply Business.
85% of all salon owners, beauty therapists and hairdressers who stopped trading during the pandemic expect to continue or restart their current business after lockdown 3.0, while the same number that permanently ceased trading (9%) have started a new business. Only 26% said that they were eligible for the furlough scheme though.
However, despite the challenges the pandemic has thrown at them, many believe that the industry is strong and will bounce back – which isn’t surprising, especially as another report revealed that 45% of Brits would pay to fast track their appointment as salons reopen.
A staggering 99% of beauty and hair professionals expect their business to survive past 2021, while 100% who had to stop trading during lockdown plan to continue with their current venture, the report found.
Meanwhile, there are just as many hair and beauty pros planning to start a new business as there are who said they’ve permanently ceased trading (9%). This coincides with another report which revealed that many aspiring entrepreneurs have started their own hair and beauty business during coronavirus.
Two thirds (66%) of respondents said the vaccine rollout has made them more confident about business recovery, while one in three (36%) also feel positive in general about life after lockdown.
It’s not surprising to learn that more than half (62%) of beauty and hair professionals used the pandemic to spend more time with their family, while others have focused on taking care of themselves (35%), resting (34%) and learning new skills (20%).
“The hair and beauty industry has been hit particularly hard in the past year, and the scale of the impact on small businesses and the self-employed is abundantly clear in our latest research,” said Alan Thomas, UK chief executive of Simply Business.
“Against such a tough backdrop it is inspiring to see small business owners display such resilience, and this is especially true for the hair and beauty sector where almost every professional – whether mobile or in a salon – believe they’ll operate beyond this year.
Although salons, spas and mobile therapists have reopened in England and Wales, beauty businesses in Scotland are not due to open their doors again until April 26 the earliest.
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