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Consumers want SMEs excluded from UK government ’ s cost cutting campaign
Following news that the UK government plans to launch a campaign to encourage businesses to cut prices to help with the cost-of-living crisis , roughly a quarter ( 27 %) of consumers in a survey by Purbeck Personal Guarantee Insurance have said they think small businesses should be excluded from the campaign .
Over half ( 53 %) of those surveyed thought small businesses should be included in the initiative and take steps to cut their prices , the remaining 20 % were unsure .
The findings suggest the ‘ one-size-fits-all ’ campaign may not receive wide support from small businesses owners who are already struggling with rising costs , the ongoing effects of the pandemic and staff shortages .
Todd Davison , MD of Purbeck Personal Guarantee Insurance , said : “ Businesses need to innovate in tough times and that ’ s what small businesses excel at .
“ Simply slashing prices as a small business owner creates unrealistic expectations and devalues the proposition .”
Sage and Microsoft to simplify workflows for SMBs
Sage has announced an expanded partnership with Microsoft . The news includes plans to integrate Microsoft Business Products , including Microsoft 365 and Microsoft Teams , as embedded services in Sage products and the Sage Digital Network .
“ Increasingly , SMBs are digital businesses – but connecting the tools they use can be a barrier to their success .” said Steve Hare , CEO , Sage . “ Microsoft products have long been the tool of choice for collaboration , with Sage powering the back office . Through our expanded partnership , we will simplify life for millions of SMBs , removing friction and helping them to achieve real productivity gains .”
As SMBs navigate a digital world , businesses increasingly rely on the flexibility and productivity gains that the cloud provides . The partnership supports Sage in giving customers a choice of cloud platform , as well as the ability to collaborate and communicate where work happens – helping business to flow while making it simpler for them to do business .
Half of small business owners forced to increase prices
Almost half ( 49 %) of all small business owners in the UK are set to increase their prices as they look to battle rising costs , a new report reveals .
The SME Insights Report , released by Simply Business , one of the UK ’ s biggest small business insurance providers , surveyed 1,000 small business owners . The report lays bare the truth of how SMEs are responding to the current economic climate – navigating an uphill challenge of rising costs , staggering levels of inflation and post-pandemic financial recovery .
The study found that small business owners are being forced to implement price increases , slow down plans for expansion and even stop any plans for new hires .
Yet despite all this , most ( 71 %) say that they feel optimistic about their business ’ s prospects over the next six months . In the face of adversity , confidence levels among SME owners remains high .
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