Biba reports a 36% turnover slump due to Covid-19
The trade body was forced to cancel its conference last year and make redundancies but said that due to managing funds “cautiously” it was able to return a small surplus.
The British Insurance Brokers’ Association (Biba) has reported a 36% turnover drop for the full year ending 31 December 2020.
Biba files its accounts as a small business and, as such, the document on Companies House does not show profit and loss.
During 2020 the body was forced to cancel its conference, which accounts for a significant chunk of its income, due to Covid-19.
Financial shock
A spokesperson explained: “Though its 2020 turnover was reduced by almost 36% on the previous year
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