80% of mid-sized businesses expect rising fuel prices, supply chain disruption, and increasing energy costs to impact end of year trading according to the latest BDO business survey.
500 business leaders took part in the survey which revealed that a third of businesses expected to increase the prices of their goods and services as a direct result of rising inflation. The same number of businesses expressed concern about increasing energy prices and a third also about supply chain disruption.
The leaders of 80% of medium-sized businesses expect their end of year trading to be impacted by at least one of these three factors with 34% also citing Covid-19 restrictions as an issue likely to impact the availability of products and services.
Almost a fifth, 17%, of business leaders said they would not be able to increase pay. With the increases in the cost of living this is likely to impact on staff morale and recruitment.
32% of businesses, that completed the survey, said that they are planning to decrease the number of products and services on offer. This was a direct result of the impact of inflation.
Despite ongoing issues 62% of businesses expect to return to pre-pandemic revenues in the next 12 months.