Small Business Owners

Nero

Well-known member
Why are Politicians not mentioning how government could and should be helping small businesses absorb the massive increase in their energy costs in October and January 2023? I understand the main focus is on households, but there's a looming disaster for those running a business with the overhead of a premises.

Labour and other opposition parties must come up with a policy akin to the support small business received during COVID lock-down. If a family is potentially due to pay £4k for their home, how much is a business such as hairdresser, beauty salon, pub or restaurant suppose to cope with costs way above that £4? Do they go to the bank and hope their overdraft can be extended at low interest rates? These businesses are the backbone of any economy and cannot be allowed to fail on mass.
 
Why are Politicians not mentioning how government could and should be helping small businesses absorb the massive increase in their energy costs in October and January 2023? I understand the main focus is on households, but there's a looming disaster for those running a business with the overhead of a premises.

Labour and other opposit ion parties must come up with a policy akin to the support small business received during COVID lock-down. If a family is potentially due to pay £4k for their home, how much is a business such as hairdresser, beauty salon, pub or restaurant suppose to cope with costs way above that £4? Do they go to the bank and hope their overdraft can be extended at low interest rates? These businesses are the backbone of any economy and cannot be allowed to fail on mass.
They're going to be left to adjust their pricing to suit costs. It's a double whammy for them because they'll be losing customers who can no longer afford their services, particularly in poorer areas. It could be absolutely devastating for many town economies and the non essentials will be hit first.
 
They're going to be left to adjust their pricing to suit costs. It's a double whammy for them because they'll be losing customers who can no longer afford their services, particularly in poorer areas. It could be absolutely devastating for many town economies and the non essentials will be hit first.
Yeah, they're (we're) expected to adjust prices to suit I think, covering the cost of the energy increase would be simple that way, if the number of customers remained constant, but the bigger problem is the recession/ inflation which will reduce the number of customers for a lot of companies.
 
Why are Politicians not mentioning how government could and should be helping small businesses absorb the massive increase in their energy costs in October and January 2023? I understand the main focus is on households, but there's a looming disaster for those running a business with the overhead of a premises.

Labour and other opposition parties must come up with a policy akin to the support small business received during COVID lock-down. If a family is potentially due to pay £4k for their home, how much is a business such as hairdresser, beauty salon, pub or restaurant suppose to cope with costs way above that £4? Do they go to the bank and hope their overdraft can be extended at low interest rates? These businesses are the backbone of any economy and cannot be allowed to fail on mass.

Well you know what the Tories think about business... how did Johnson put it?

"F**k Business"
 
I am lucky I have given notice on my premises and can work from home.
I am £6000 a year worse off on our home budget and have used savings over the last 6 months to top up income.
That was our disposable money for holidays Christmas Birthdays etc.
What is coming in is going out on essentials now any more rises and we will have to turn to credit.
Not sure how most people are managing as would have described myself as fairly comfortable 9 months ago.
All businesses are effected as the rising costs are an essential, reports today that nurseries and childcare are closing in their droves.
 
Some prominent people including economists, are attempting to get this issue made as much a priority as household energy. One person has mentioned the fact banks are currently sat on billions of pounds effectively transferred from the Bank of England as part of Quantitative Easing. With interest rates increasing, those banks are due to make even more on money that was pretty much given to them.

Action has to be taken now to either stop that price cap becoming £4k and beyond, or the government has to treat the whole crisis similar to COVID and step in to prevent a massive shock to the economy as small businesses fail.
 
More government ineptitude. When we talk bout how they can't relate to people that struggle with such low income we forget that they also can't relate to how businesses operate because the majority of them have never worked a day in their life outside of politics or some non-job like journalism. They really don't understand how anything works. All their decisions are such high level that they never think about the individuals within the system.

Such basic concepts like thinking inflation this year is a one-off so don't ask for inflation matching pay rises. If inflation returns to normal next year and we haven't had a pay rise we will never get that 10% back that we have lost this year. They don't seem to understand things are more than just one-off events. Compounding has a huge effect so if you miss out this year it will affect you indefinitely.

If everyone has to put their prices up on top of energy then inflation is going to be way more than 10% just for businesses to stand still. We're going to be touching double that if they want to remain in business or, as is most likely, they are all going to have to operate at a huge loss or close down which then obviously has a knock-on effect.

It is madness that we are not hearing more from them about the impending recession. Even if they don't believe they should be giving handouts to people or imposing additional taxes to businesses then surely they want to be avoiding such a blatant recession heading our way. It's seriously like they can only concentrate on one thing at a time.
 
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