New research reveals small businesses are owed nearly £23,000 in late payments amid growing pressures of the cost-of-living crisis, as 77% of SMEs fear the impact of a recession

Insolvencies in the UK manufacturing sector have increased by 63% in a year due to rising interest rates and inflation, says Mazars, the international audit, tax, and advisory firm

Businesses are losing confidence amid record rising input costs, tougher economic conditions, and a lack of targeted support from the government

The government needs to provide urgent support on energy bills for individuals and businesses, say Resolution Foundation and British Chambers of Commerce (BCC)

Growth expectations are down and cost pressures are weighing heavily on small firms, according to FSB’s Small Business Index report  

The inflation rate rose to 10.1% in the 12 months to July, the highest level since February 1982 

Disruptions to the supply chain has affected the reputation of over a quarter of UK businesses as customers expressed dissatisfaction with services

Corporate insolvency numbers in Scotland increased by 49.1% from the same time last year with 243 insolvencies in the last quarter

Two thirds of CFOs are concerned that the UK will go into recession as pressure on business grows with labour shortages, rising inflation and supply chain issues.  

Retail sales were down 0.5% in May 2022 following a rise of 0.4% the previous month as consumer confidence fell and food purchases were put under pressure

The latest inflation figure for May has hit 9.1%, up slightly on the previous month as fuel and energy prices continue to weigh on prices

The UK’s consumer prices index (CPI) shows inflation reached 9%, up from 7% in March 2022