inflation / 2 posts found
Spring Statement 2022: Your summary of the key points
The Chancellor, Rishi Sunak, delivered his Spring Statement on 23 March. Faced with the task of creating a ‘strong economy’ for the UK, against the challenging background of high inflation, rising costs and the threat of conflict in Europe, he announced a raft of new measures. So, what was in the Spring Statement for your business? And how will these announcements, government measures and new initiatives affect the business landscape in the coming year? The challenge of creating a stronger UK economy As we head into the second quarter of 2022, your business is facing a demanding economic landscape. Inflation [...]
High inflation: What does it mean for your business?
High inflation is hitting businesses and households hard in 2022. Across the world, inflation is running high, thanks to factors like pandemic disruptions, monetary stimulus and supply-chain issues. You’ll see the effects of inflation at the supermarket and the fuel pump – and in your business. Eroding the power of your pound Inflation increases prices, which eats away at the buying power of your pounds. For business owners, that means you’ll encounter higher costs from your suppliers. Materials are more expensive, transport has become far more costly, and basics from office supplies to utilities are all rising in price. In [...]