Nhbf warns of 'devastating future' for hairdressing without financial support
Published
02nd Dec 2020
by eleanor
The National Hair & Beauty Federation (NHBF) has warned of boarded-up shop fronts, significant job losses and a mental health and wellbeing crisis across the industry if the Government does not provide additional financial support.
The results of the NHBF’s latest State of Industry survey, conducted across UK hair and beauty salons and barbershops, highlights the significant impact of the current Government-imposed restrictions on businesses, as well as the financial and psychological impact on business owners and staff who are seeing their bills and debts increase.
Significant statistics from the report included:
- 1 in 8 business owners (13%) had already made redundancies as a result of the pandemic
- 56% could not rule out further redundancies without Government support when the furlough scheme ends. 1 in 9 (12%) were certain that redundancies would be likely
- 53% of respondents had cut staff hours in order to save costs. This rose to 61% when looking at the beauty sector alone
- 62% could not be sure their business would survive until the end of the financial year, with almost a third of that number (18%) explicitly sure they would have to close
- 2 in 5 (38%) of salons in the beauty sector were not earning enough to cover outgoings such as rent, overheads, staff costs and stock. Across the hair and beauty sector as a whole, only 2 in 5 are just about breaking even
- 1 in 11 (9%) had not received any financial support
- Only 4% were likely to take on new staff in next 3 months
- Only 4% likely to take on apprenticeships despite recent Government incentives