Small Businesses

Small firms expect supply chain and staff problems to worsen

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The latest business report indicates that the majority of smaller firms based in London are expecting existing issues with staffing and supply chains to worsen and want the government to step in.

This report was published by takepayments limited, a card payment provider, and it sought the views of small business owners throughout London. In total, 68% stated that they thought the current crisis over employees and supply chains would worsen before they started to see any signs of improvement.

The disruptions to supply chains and shortages of employees are being attributed to the combined effects of the pandemic and Brexit. The report was intended to find out how London small businesses are coping, with 59% stating that finding staff has been a problem this year, and 54% saying that they have had trouble with their supply chains.

Over half of the small firms in the report said that the two issues together were already damaging their businesses, with 29% saying that the situation was very serious. Small firms struggling with these problems may find that talking to accountants in Goole or another part of the country can help them find solutions.

The report also asked the companies to say what action they would prefer the government to take. In response, 41% said that schemes to train UK people would help address the staffing issue.

A further 39% indicated that targeted tax breaks would help them financially, while relaxing the rules on immigration was cited by 32% and emergency visa provision by 33%.

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