Small business running costs ‘double UK inflation
rate’
Small business
running costs are increasing at around double the general rate of
According to a study
by More Than Business, small business operating costs have risen by 9.9% over
the last year. Recent hikes in petrol and energy prices are believed to have
contributed to the increase.
Businesses
employing fewer than ten people appear to have been the hardest hit, with a 10.0%
increase over the past year.
Head of More Than
Business, Mike Bowman, said: ‘These businesses are the
unsung heroes of the British economy, representing over 1.6 million businesses
in the
‘Now we have a
true picture of rising costs for small businesses, people will be asking the
Government what realistic measures can be taken to support them, particularly
in the current economic climate,’ he added.
The research also highlighted regional
discrepancies, with Scottish firms facing the lowest inflation and businesses
in the north of