The shock of COVID-19 to small businesses was not creative destruction. COVID-19 had a detrimental impact on small business operations, according to 90 percent of small business owners, in April 2020, when the crisis was at its worst. Some small firms were more prepared than others, but overall, businesses failed to owe to public safety restrictions that reduced customer demand, not because they were less productive than their competitors.

New government incentives to help pubs, restaurants, and theatres deal with a drop in customer confidence caused by Omicron have been tentatively welcomed. Others, such as beauty shops and nightclubs, said that the bundle just scratched the surface.

Due to a dramatic decline in bookings, hospitality and leisure businesses can apply for incentives of up to £6,000 per location. There's also an extra £30 million for the arts and £100 million for municipalities to aid small businesses. The effectiveness of the package, however, will be "determined by how swiftly this additional, desperately needed help reaches individuals in need," according to the Federation of Small Businesses.

The newer COVID version has had a toll on two activities: eating and drinking out. Despite the fact that bars and restaurants have remained open and are not subject to additional regulations, many people have been hesitant to attend them for fear of contracting the virus.

This short-term offer of help from the chancellor is good at a time when pubs and breweries are facing significant challenges. It will be a lifeline for many people, and it will help companies make up for the already-significant drop in sales in the run-up to Christmas.

The Treasury acknowledged that while the support program is intended for leisure firms, gyms would not be eligible for the targeted incentives. They can, however, appeal to municipal governments for discretionary loans. Gyms, fitness centers, and leisure centers have already felt the effects of lower foot traffic in December, and the New Year is shaping up to be exceedingly unpredictable.

The health crisis in the dead of winter, the government's failure to recognize the worth of a sector that keeps the nation physically and psychologically healthy while employing hundreds of thousands of people is just astounding.

Hair and beauty clinics have unique challenges since it is impossible to monitor social separation while enduring the majority of the services. However, the industry has received no specific assistance as part of the current measures, while firms may still apply for an Additional Restrictions Grant, which is awarded by local councils at their discretion to sectors other than leisure and hospitality.

High Street stores have also suffered as a result of consumers' reduced outgoings, but little targeted assistance has been provided. Shops don't have any canceled reservations to brag about. They do, however, have decreased footfall, canceled excursions to the store, and hence canceled sales during a crucial time of year - just as much damage, but not as 'obvious.'

The chancellor's remark, according to the travel industry trade group Abta, misses the obvious impact on firms that rely on overseas travel. Travel agencies, tour operators, and travel management organizations would understandably wonder why they haven't received the same treatment as other businesses that are struggling.