COVID-19 Impact Survey – UK Markets and Events

The NMTF has undertaken a major survey to understand the impact of COVID-19 (Coronavirus) on the businesses of market, street, and events traders in the UK.

1,100 people contributed to this survey. The NMTF gives thanks to every market, street, and events trader across the UK who took the time to take part.

Market and Street Traders

  • Essential goods traders mainly work from outdoor markets (60%), followed by indoor markets (41%) and events (35%). Non-essential goods traders prefer indoor markets to outdoor markets.
  • 33% of all market and street traders expect to receive no financial support from the government. 31% expect to make a successful claim through SEISS and 16% through Universal Credit.
  • 80% of all market and street traders – selling both essential and non-essential goods – are not individually liable for any business rates on the market stall or unit that they trade from.
  • 65% of market and street traders have been forced to close by the market or licensing authority – even traders selling essential goods. 35% reported their markets were open for business.
  • 57% of market and street traders have received a waiver on their rent. 13% have been given a ‘payment holiday’ and continue to accrue charges. 30% of market traders are being charged as normal.
  • 70% of market and street traders report turnover is down – most around £20k or less. Forecasts for this financial year are depressed. Between 8 to 16% expect to close their businesses permanently.

Events Traders

  • Most events traders sell non-essential goods, such as: Speciality wares (21%); arts, crafts, and gifts (16%); clothing (10%); jewellery and watches (8%); and vintage goods (5%).
  • 45% of events traders expect to receive no financial support from the government. 32% expect to make a successful claim through SEISS and 12% through Universal Credit.
  • Unsurprisingly, the main sales channel for events traders is events (97%). 74% of events traders are not registered for VAT and 89% are not liable for businesses rates on any non-domestic property.
  • 96% of events traders have had events cancelled and 82% have had events postponed. 48% have not had any booking fees returned due to events being cancelled.
  • 68% of events traders did not have event cancellation insurance in place. Of those that did, not one respondent made a successful claim on any insurance policy for event cancellation.
  • 78% of events traders report turnover is down – most over £20k. Forecasts for this financial year are depressed. 16% expect to close their businesses permanently.

If you have a press enquiry, contact Roy Holland, Communications Manager, on publicity@nmtf.co.uk.

Any other questions or comments, contact Chris Savage, Projects Manager, on projects@nmtf.co.uk.