NHBF Warns Government About Huge Revenue Loss for UK Hairdressing Industry
The National Hair & Beauty Federation has told the UK Government the UK hairdressing industry, as well as barbering and beauty businesses could have a revenue loss of over £124 million per week due to compulsory COVID-19 closures throughout the UK.
The NHBF Key Industry Statistics 2020 report calculated the estimated revenue loss per week for the hairdressing industry in different regions throughout the UK. The report found England as a whole could lose £98 million in total lost revenue per week, Scotland could lose £17 million, Wales could lose £6 million and Northern Ireland could lose £3 million.
How could government COVID-19 compulsory closures lead to revenue loss for the hairdressing industry in different parts of the UK?
The fear, according to the NHBF is that by making it compulsory for salons to close, previously profitable businesses may not be able to cope with the losses and could have to close indefinitely.
Richard Lambert, NHBF chief executive said: “We know from our recent targeted surveys that the majority of hair and beauty professionals are struggling to recoup their losses from lockdowns, implementing social distancing measures and the costs of increased PPE. Whilst we appreciate these are all necessary, the sector has not received any additional financial support such as those gifted to the arts, the sports sector, leisure or hospitality. Businesses simply cannot continue on this basis and we are continuing our pressure on the UK Government to recognise this.”
The Key Industry Statistics report, which was compiled with the Local Data Company (LDC), shows that at the beginning of 2020 barbershops, beauty salons and nail salons were the top three retail categories and saw the highest growth in the UK – above supermarkets, coffee shops, takeaways and pizza shops.
It paints a picture of a strong and growing industry with business survival rates bucking the decline of the high street. It is characterised by a high percentage of female entrepreneurs, supporting young people into careers and its posiive approach to flexible working.
There are nearly 45,000 hair beauty salon businesses in the UK, according to the Office for National Statistics and the industry has continued to prop up struggling high streets.
Richard added: “Financial help to salons and professionals during this difficult time will be the only way to ensure the hair and beauty sector can return to where it was at the beginning of 2020.”