Article

2020-09-18 Economy

Yelp data shows 60% of small businesses that closed during the pandemic have now shut their doors permanently and 97,966 firms in total have closed for good - with restaurants and bars among the hardest hit

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Posted by Skidmark 2020-09-18 00:00|| || Front Page|| [11127 views ] Top

#1 Victims of government over-reaction to COVID.

Just like most people dying with COVID died because their immune system over-reacted.

Posted by Bright Pebbles 2020-09-18 03:52|| 2020-09-18 03:52|| Front Page Top

#2 97,966 firms in total have closed for good

As previously mentioned, at the start of 2019 there were 5.9 million businesses in the UK

98966/5900000 = 0.0166 = 1.7%

Survival Rates of UK businesses Born Between 2013 – 2017

Survival rates of UK businesses born between 2013 to 2017

Posted by g(r)omgoru 2020-09-18 04:32|| 2020-09-18 04:32|| Front Page Top

#3 ^ wtf?

Posted by Lemuel Snimp7918 2020-09-18 06:11|| 2020-09-18 06:11|| Front Page Top

#4 Maybe we didn't need them.

Posted by Skidmark 2020-09-18 09:01|| 2020-09-18 09:01|| Front Page Top

#5 So lockdown has a higher business death toll than covid does on people.

Posted by Bright Pebbles 2020-09-18 09:12|| 2020-09-18 09:12|| Front Page Top

#6 Now, BP you disappoint me. I don't expect much from some of our fellow 'burgers. But, you should be able to use the above numbers to estimate that the annual business bankruptcy rate >> 1.7%.
x(t) = x(0)*exp(- a*t) ==>
a = {ln[x(0)]-ln[x(t)]}/t
remember?

Posted by g(r)omgoru 2020-09-18 09:31|| 2020-09-18 09:31|| Front Page Top

#7 The 2 year shutdown rate on small business was about 50% when i started mine. But its was not unusual for small IT contractors to restart businesses every 2 years for tax reasons.

Posted by Bright Pebbles 2020-09-18 09:49|| 2020-09-18 09:49|| Front Page Top

#8 So, basically, the lockdown was a boon to small businesses?

Posted by g(r)omgoru 2020-09-18 10:07|| 2020-09-18 10:07|| Front Page Top

#9 Politicians have no idea how business works. They think they can shut down for a few months, then just go right back to normal.

Posted by Iblis 2020-09-18 11:43|| 2020-09-18 11:43|| Front Page Top

#10 Yes. Remember George McGovern's (!) comments after he was out of office and tried to start a small business. He had no idea government made it so difficult.

How nice it would be to require 10-15 years in the private sector, preferably as a small businessman, before people could run for office.

Posted by Tom 2020-09-18 13:49|| 2020-09-18 13:49|| Front Page Top

#11 Person who does not understand how private sector business works gives us model on private sector survivability.

Then expects us to take his WuFlu model seriously.

Posted by swksvolFF 2020-09-18 18:48|| 2020-09-18 18:48|| Front Page Top

#12 ^It's called seeing the forest, not just the trees.

Posted by g(r)omgoru 2020-09-18 19:04|| 2020-09-18 19:04|| Front Page Top

#13 No it isn't.

No model survives first contact with data.

The fact that we are free to talk about the politics shows that the WuFlu is not as dangerous as sold.

Posted by swksvolFF 2020-09-18 19:51|| 2020-09-18 19:51|| Front Page Top

#14 So lockdown has a higher business death toll than covid does on people.

Snarf! That this can even be talked about...

Trying to make the data fit the model is totally irregular.

Posted by swksvolFF 2020-09-18 19:54|| 2020-09-18 19:54|| Front Page Top

#15 "But mah numbahs!"

That dead horse was beaten to pieces long ago. Lies, now exposed, prove credibility earned is lost

Posted by Frank G 2020-09-18 20:01|| 2020-09-18 20:01|| Front Page Top

#16 The destruction of credibility is going to be the worst loss.

Posted by swksvolFF 2020-09-18 20:23|| 2020-09-18 20:23|| Front Page Top

#17 Great round table, little over 1 hour.

Posted by swksvolFF 2020-09-18 20:27|| 2020-09-18 20:27|| Front Page Top

#18 Relinquish that link, plz.

Posted by Shemble the Limpid2166 2020-09-18 21:31|| 2020-09-18 21:31|| Front Page Top

#19 Why?

Posted by swksvolFF 2020-09-18 21:45|| 2020-09-18 21:45|| Front Page Top

#20 I think Shemble means the link, she is broken.