“The industry as a whole is horrific and some of these challenges I don’t think any government really understands, particularly around VAT rates that we pay. The costs just keep going up, be that supplier costs, be that energy costs,” she told the BBC.
The struggles for businesses comes at the same time as a drop in consumer confidence, with more people concerned over the UK’s financial prospects, as well as their own.
While there is often a jump at the end of the year of companies in critical financial distress, the report found a sharp increase of 50% from September to December last year, taking the number of businesses in this category to 46,583. The record jump, since Begbies Traynor started collecting such data in 2004, was up from…
