26/08/2022
According to Barclays’ SME Barometer, a quarterly survey of business sentiment, over 50% of small businesses are concerned about consumer spending. The cost of living crisis, steeply rising inflation and increasing energy costs are expected to have far-reaching impacts - and small businesses are not exempt.
Add to that the challenges seen in the labour market and it's easy to see why businesses are concerned.
If you haven't done so already, it would be worth updating your financial forecasts to plan for these impacts and to ensure you are in a strong cash flow position to see you through the likely tough times ahead.
If you need help thinking it through, then feel free to book a call with me. Otherwise remember to support your local small businesses.
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