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READ MOREWhat the cost of doing business crisis is doing to small firms
Nine out of ten small firms are reporting higher costs, with costs outstripping income over the last six months, as the cost of doing business crisis bites.
One of the biggest increases in the cost of doing business has been in supplies and stock purchased, which has gone up by 21 per cent year on year.
Small businesses are also spending on average 37 per cent more on motor fuel since the beginning of 2022, according to digital SME bank Cashplus Bank.
At the same time, year-on-year the amount spent on air, rail and road transport costs has nearly doubled at 94 per cent.
And the amount of money small businesses spent on hotels and accommodation increased by 43 per cent, while restaurant bills inflated by 14 per cent.
Read more at City A.M.
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