Research businesses in the UK have experienced significant declines in revenue due to the Covid-19 Lockdown, reveals research from MRS and Watermelon Research with sector leaders in April and May. 

Almost seven in 10 (68%) of the social and market research firms participating in the survey said their revenue had declined significantly since the start of the outbreak, while 19% had seen a slight decline. Most of the 176 MRS member businesses surveyed for the research (67%) anticipated that their revenues would decline by more than 25%, while 28% predicted a drop of 75% or their revenue to stop completely.

Smaller research suppliers have been hit hardest, the research found – micro-businesses (0-9 employees) were the most likely to say that their revenue would be down by 75% or stopped completely. Businesses with 49 or fewer staff and revenue below £5m were more likely to have experienced delays to client invoices being paid on time. The research also found that 60% of businesses had furloughed staff as a result of the outbreak.

Respondents were quite pessimistic about prospects during the next few months, with 69% very or fairly pessimistic about the next quarter (63% for the next six months). The outlook did improve slightly for the next 12 months – 41% were pessimistic, while 38% were fairly or very optimistic, but smaller businesses showed lower levels of optimism.

Hear Sinead Jeffries from Watermelon summarise the main findings of the research:

Read the full article on Research Live on the research plus expert comments

Get the latest MRS news

Our newsletters cover the latest MRS events, policy updates and research news.