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Covid-19 Impact on Innovative SMEs – 17 April-9 July 2020

Covid-19 Impact on Innovative SMEs – 17 April-9 July 2020

This article provides an analysis of the impact of Covid-19 upon innovative SMEs and recommendations to support their recovery and growth.

The analysis is based on conversations with 73 SMEs in the South East. These SMEs are innovative: they are developing a new product, process or service, and the majority have received grant funding from Innovate UK or are likely to apply for Innovate UK support in future.

Most SMEs have stabilised and reduced their outgoings to match income. They are now focused on rebuilding their order books although this will be easier in some sectors than others.