New research shows that small and medium-sized enterprises (SMEs) across the UK are facing rising charges from their suppliers, but they are managing this without putting their own prices up.

This study was carried out by MarketFinance, and it spoke to 1,000 people who run SMEs. The results indicate that suppliers putting prices up for their materials is something that has been an issue for 79% of SMEs during the last six months. However, the study also found that 32% of the smaller firms in that position – which adds up to almost one third of them – had dealt with this without raising prices for their customers.

Firms in the North West have been particularly affected by increased supplier costs, with 85% of firms there stating that their suppliers had put prices up and were blaming rising raw materials costs for it. Accountants in Goole and other parts of the region could potentially help North West SMEs find savings to balance these increased costs.

Next to raw materials being more expensive, the second biggest reason given by suppliers for putting up their prices was a lack of staff. Across the last six months, charges from suppliers have gone up by close to 50% for one quarter of UK SMEs.

While many have managed to avoid putting up prices for their goods or services, 21% have been forced to do so – with these mostly being in Northern Ireland and the South West. Just 20% of customers have complained about an increase in prices.