New research has revealed that 50% of small businesses have either become cashless or plan to as a result of Covid-19.
The acceleration of the cashless society, since the pandemic, has been prompted by evidence that the virus lives on cash. However, even prior to the pandemic, there were signs that cash was dying out in the UK due to customer preference. In March, just prior to the lockdown, Amaiz, the business banking app, reported that, of those businesses that only take cash, nearly a third had lost customers because of it. The pandemic is likely to have driven that figure still higher.
Matt Goddard, Head of Acquisitions at Amaiz commented; “Micro businesses have had a very challenging time. They have been forced to pivot and going cashless is one way that they can improve the safety of their employees and customers.”
In addition to going cashless many small businesses
Four in 10 British pubs won’t survive beyond September unless they get extra support from the government to see them through the lockdown, the industry’s trade body has said.
The British Beer and Pubs Association said a survey of its members found that 19,000 out of the UK’s 47,000 pubs believe they may be forced to shut their doors for good within months, at a cost of 320,000 jobs.
The government is preparing to announce a gradual easing of lockdown measures that could lead to pubs starting to reopen by autumn.
But the BBPA said that even this would leave pubs on a knife-edge, with many expecting to run out of cash before the end of September.
“Nearly half of the UK’s pubs could close unless the government does more to help them,” said the BBPA chief executive, Emma McClarkin. “For the sake of communities and jobs across the UK
Dow Jones & Co. set a new record of nearly 3.6 million total subscriptions in the third quarter across The Wall Street Journal and Barron’s Group, representing a 10% increase year-over-year, including a 20% increase in digital only growth.
As part of the company’s third quarter earnings report, News Corp. also noted that The Wall Street Journal’s digital paid subscribers were up 15% year-over-year to more than two million, another record. Digital subscribers accounted for 73% of the Journal subscriber base for the third quarter.
In recent days, the Journal has reached approximately 3 million total subscribers for the first time, including 2.2 million digital only, which represents over 20% growth year-over-year.
According to internal metrics, unique visitors to The Wall Street Journal were up 74% year-over-year, while Barron’s saw a 163% jump in March alone. MarketWatch’s unique visitors also rose exponentially, tripling to 90 million in March compared to