We have all witnessed the major disruption the pandemic caused to the economy and communities. One in 10 of the six million UK SMEs expect the pandemic to cost them over £50,000 in total, with an average of £15,673 being lost per SME.

Some industries have been hit particularly hard. Hair and beauty professionals expect costs to reach £12,800 on average, tradespeople think it will cost them £18,039 overall – and pub and restaurant owners expect significant total costs of £45,470 on average.

To assist struggling businesses that have been financially affected by the Coronavirus pandemic, the UK government brought in a number of schemes to support businesses - most of which have been extended throughout the pandemic.