Businesses need ‘emergency’ budget to cope with rising costs

The British Chambers of Commerce (BCC) has called on Rishi Sunak to introduce an ‘emergency’ budget to help small businesses cope with rising costs.
The business group called on the Chancellor to postpone the recent National Insurance rise, cut VAT on energy bills to 5 percent and to reintroduce free Covid tests for companies to help them combat high absence rates.

Four ways an accountant can help with rising business costs

Operating costs have increased for 90% of businesses according to a new survey from the Federation of Small Businesses.

Almost half of the British companies surveyed said that rising costs would stall growth this year.

Rising food and fuel costs pushed inflation to a 30 year peak in February this year. A study from Cornwall Insight, meanwhile, showed that business gas prices increased 250% in the first quarter of 2022, compared to the same period last year.