ColdQuanta UK, the Oxford-based quantum atomics company, has been awarded £2.8 million in Innovate UK grants. The funding will enable ColdQuanta to lead a consortium of companies across the UK to develop three projects, including work on a new, ground-breaking...
The impact of Covid-19 on a group of innovation-based companies – a report of our survey findings
Advanced Oxford has been collecting insights from Oxfordshire-based innovation/R&D companies since the start of the lock-down period via a short on-line survey (https://www.surveymonkey.co.uk/r/D73XTBS). The survey poses a set of questions across a number of business issues, focusing on the impact of the Covid-19 virus and the associated changes in working practices. The Covid-19 pandemic has created unprecedented business conditions, with all sectors of the economy being significantly impacted by the lock-down, social distancing, the health crisis and its associated social and economic impacts.
Government is working to respond to these changes and this analysis of results provides insight and evidence from a group of businesses around key issues including investment, cash-flow and the workforce. Advanced Oxford is sharing the results and analysis with policy makers at the local, regional and national level.
Read our analysis: Covid 19 company effects – report of findings to 14 April 2020 final
- Significant concerns relate to investment and cash-flow.
- While 87% of the companies responding stated that they were expecting to grow, prior to the crisis, only 37% companies now expect to see growth in the next year.
- Commercial companies have seen negative impacts on sales, ranging from 20 – 50%, where the impact was quantified.
- Over a third of companies are experiencing significant supply chain issues and 80% of companies are experiencing delays or are stalling their research and development activity.