intelligent
// PREDICTIVE INTELLIGENCE //
the festive trading period . Our study found that four in five small business owners are worried about the impact the cost of living crisis will have on their business . This is having a clear impact on consumer purchasing behaviour , which is another blow to the pockets of small businesses . SME owners are inevitably feeling the squeeze as they struggle to pass on rising costs to their customers .
Alan Thomas , UK CEO at Simply Business for three days a week instead of one and I have stripped all non-essential costs out of our business . I am also selling a much smaller range of goods .
“ We ' ll be entering 2023 in poor shape , our turnover is down approximately 35 % year-on-year , and ultimately we could be contemplating closure .”
Alan Thomas , UK CEO at Simply Business , said that small businesses need our support . He said : “ The self-employed are feeling the pressure of the current economic climate more than most , with some small businesses not receiving the much-needed boost during
“ The New Year is an opportunity for a fresh start but without support , at both governmental level and from hard-working consumers willing to shop locally , there is concern that 2023 will be even tougher .
“ Small businesses account for 99 % of all British businesses , contributing trillions of pounds a year to the economy in turnover . The recovery of our economy and communities is directly linked to their success . We must support small businesses all year round , and there ’ s no better time to start as you mean to go on in January .”
Simply Business have launched a Cost of living support hub to help support small businesses and the self-employed . �
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