SME NewsBusiness inflation hits UK SMEs hard
Cost inflation makes life tough for UK small businesses.
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.
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