Home Business NewsBusiness 9 in 10 small business owners say Government not doing enough to support them amid cost of living crisis

9 in 10 small business owners say Government not doing enough to support them amid cost of living crisis

by LLB Reporter
17th Feb 22 10:55 am

Nine in 10 (93%) small and micro businesses say the Chancellor, Rishi Sunak, is not doing enough to support them, according to a survey by Facebook group, Not On Amazon, which has nearly 190,000 independent makers as members.

The survey results also revealed 9 in 10 (88%) micro businesses are finding it harder to make ends meet compared to a year ago.

Just 1% of the 2000 survey respondents said they are finding it easier to make ends meet compared to a year ago, while 11% said they are in the same financial position relative to February last year.

Not On Amazon’s community of makers were also asked what represents the biggest challenge for their businesses at present.

34% of survey respondents said “slow sales”, 28% “rising energy prices”, 20% “rising raw material costs”, 4% the “availability of raw materials” and 3% “rising interest rates”. 11% were unsure.

Jamie Rackham, Founder of Not On Amazon, commented: “Sadly, this survey shows the grim reality independent businesses are facing today. The fact that nine in 10 makers and micro businesses are finding it harder to get by than this time last year shows that the post-pandemic financial crisis is really starting to take hold. What’s also crystal clear is that the vast majority of small indies do not feel the Government is doing enough to support them, while at the same time letting giant corporations avoid paying the taxes they should. Many of our members basically feel abandoned. Slow sales are bad enough in themselves, but once you factor in rising energy prices and raw material costs, the financial pain is amplified. In the meantime, big businesses, which can afford to slash their prices, get bigger. As ever, the rich get richer, and the poor poorer, and that’s simply not right.”

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