MORE than half of small and medium sized businesses (SMEs) across the South West are experiencing increased operating costs and, of that figure, 67 per cent say it’s having a negative impact on their cash flow.
The figures come from the Close Brothers Business Barometer, a quarterly survey of UK SME owners and senior management from a range of sectors on economic and financial issues.
Of those in the region who are affected by increased operating costs, more than a 36 per cent state that rising energy bills are creating the greatest problem for them.
CEO of Close Brothers Asset Finance Mike Randall said: “Operating costs have increased significantly over the past few years, and are arguably one of the most difficult things for small business owners to manage in the current climate.
“We work with businesses across a range of sectors and we can see that they are all concerned about operating costs, which is unsurprising given the energy requirements, raw materials and machinery that many require.”
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