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For many years now, businesses of all types and sizes throughout the UK have had to deal with eye-watering cost increases, which have been rising at an unprecedented rate with each passing month.
This has been evident in all cost areas, leaving many small businesses struggling to survive, with rising costs linked to energy, employment and supplies as key drivers of cash-flow pressure.
UK businesses operating in hospitality, retail, construction and energy-intensive manufacturing have been particularly badly affected (source: Dojo).
82% of UK small businesses report that their operating costs have increased over the past 12 months (source: Simply Business).
Businesses have been forced to cut costs simply to survive or ease cash flow pressures, but cost-cutting is not without risk. Cut by too much or in the wrong places and it can have disastrous consequences. Our main feature this week explains how to cut costs without damaging your small business. You can also identify areas where businesses often waste money.
We will unpack how to cut costs without damaging your small business, and finish by listing five recent and relevant news stories that could impact your small business.
