Nearly 1 in 20 Small Firms Set to Close Due to Pandemic, UK Business Group Says

Pedestrians walk along an empty shopping street in Leeds, northern England, on Jan. 6, 2021, on the second day of Britain's national lockdown to combat the spread of COVID-19. Oli Scarff /AFP via Getty Images

Nearly 1 in 20 British small business owners are planning to close their firms over the coming 12 months as a result of the CCP virus pandemic, a business group said on Monday.

In a survey of 1,400 small firms, the Federation of Small Businesses (FSB) found that just under 5 percent of the businesses expect to close this year.