Cost of living latest: People with recent mortgage offer urged to renegotiate; yearly MOTs could be scrapped; why prices may never go back to what they were | UK News #Cost #living #latest #People #mortgage #offer #urged #renegotiate #yearly #MOTs #scrapped #prices #News

‘Like flying an air balloon in a hurricane’: small businesses struggling despite inflation slowdown

A 0.2% drop in inflation will provide little respite to small businesses, who are struggling as prices remain high.

Owners have said the cost of electricity, raw materials, travel, food and postage have left them feeling like they are “flying an air balloon directly at a hurricane”.

One of them is Gaynor Lockwood Edwards, owner of Dronfield-based crochet business, Quirky Cactus.

“Things are incredibly bleak at the moment,” they said.

“Costs are rising across the board so I’m not feeling confident at all that my little business will survive.”

Sales in December at Quirky Cactus were down 64% compared to the previous year.

“As a single income household, this new reality is terrifying.”

Their comments were echoed by Zena West, who runs West Art and Glass in Nottinghamshire.

“With inflation so high, I have gone into survival mode. I am hoping I manage to weather what is looking to be a very long storm ahead.

“The cost of electricity, raw materials, travel and postage have all gone up, as well as food. I’ve resisted raising my prices for now amid the cost of living crisis, but it is inevitable.”

Earlier today (8.33am post) we reported how the cost of groceries had risen 30% in a year.

“Running a business in the current economic climate feels like flying an air balloon directly at a hurricane,” said Sara Hall, founder of The Silk Purse Guild in Waterlooville.

“I’ve seen a disturbing rise in depression within my community, with artists taking blow after blow to their confidence. It’s hard to stay positive when the situation seems to get worse day after day.”

Leave a Comment