Industry set to lose £124m per week, say NHBF

The beauty and hair industry in the UK could lose over £124million per week due to enforced closures under COVID-19 restrictions, according to the National Hair & Beauty Federation (NHBF).

The NHBF Key Industry Statistics 2020 report shows the continued growth of the hair and beauty industry prior to COVID-19. However, NHBF data from November indicated 62% of salon owners could not be sure their business would survive until April 2021 (the end of the current financial year), and almost a third of that number (18%) sure they would have to close.

NHBF stats indicate the following financial impact on beauty salons, hair salons and barbershops:

Richard Lambert, NHBF Chief Executive, comments:

“The Key Industry Statistics report paints a picture of a strong and growing industry with business survival rates bucking the decline of the high street. It is characterised by a high percentage of female entrepreneurs, supporting young people into careers and its positive approach to flexible working.

“However, this was before the coronavirus pandemic and we know from our recent targeted surveys that the majority of hair and beauty professionals are struggling to recoup their losses from lockdowns, implementing social distancing measures and the costs of increased PPE. Whilst we appreciate these are all necessary, the sector has not received any additional financial support such as those gifted to the arts, the sports sector, leisure or hospitality. Businesses simply cannot continue on this basis and we are continuing our pressure on the government to recognise this. Financial help to salons and professionals during this difficult time will be the only way to ensure the hair and beauty sector can return to where it was at the beginning of 2020.”