on their business , recruiting staff , and the effects of unpredictable or extreme weather .The proportion of businesses with worries about this reached 44% in the first quarter of 2024 – almost double the proportion from two years ago , and far exceeding the UK average of 35% this quarter.Despite the latest forecast from the Office for Budget Responsibility suggesting that inflation is set to fall below 2% in the next few months, the effects of rates peaking at 11.
Perhaps unsurprisingly given these circumstances, the proportion of businesses struggling to manage their cash flow has risen in the last year from 15% to 23%, making it one of the top three concerns this year. “As the backbone of the economy, small business owners find themselves in a relentless battle against rising costs and unpredictable market conditions, making the task of forecasting and managing their financial futures for the long term nigh on impossible.
She added: “This data serves as a crucial reminder of the resilience and adaptability required from small businesses to navigate these tumultuous times.”We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
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