Business inflation hits UK SMEs hard

A quarter of UK small businesses have seen a dramatic 10% rise in costs over the last 12 months and one in 10 have experienced 25% increases according to research released today by Creditsafe.

Predictably businesses in the food/agriculture and transport sectors have been worst hit as a result of sharp rises in the price of commodities and oil.

Simon Camilleri, managing director, Creditsafe UK, said:

If the business inflation continues to rise we may see thousands of businesses forced to lay off workers, put a brake on expansion plans and even struggle to survive.

inflation | recession | small business |