Topic: Braemar Finance

Braemar Finance has published the results of research it commissioned in July to canvass the thoughts of senior members in veterinary practice about the impact of coronavirus.

Two hundred members of the profession took part. The main results were:

• 68% said it will be up to six months before they are fully operational again
• 65% said they expected their business to stay the same overall, over the next 12 months. Of the remainder, 22% thought their business will contract.
• 85% expect revenue over the next 12 months to decrease (29.5% by 21-40%, 26% by 41-60% and 24.5% by 1-20%).
• 80% made use of the furlough scheme
• 63% believe that once things return to normal staffing levels will return to normal too. 
• 58.5% had made use of the government Coronavirus Business Interruption Loan Scheme.
• When asked how supported you feel by your professional body, 18.5% said 'very' and 78.5% 'Somewhat'.
• 27% felt the worst is behind us, but the economy could decline again, 24% said the worst is behind but it will be a slow recovery, 22% said there is worse to come and 21.5% said the worst is behind and there will now be a quick recovery.