#business-costs

#business-costs

Retail sales for June have increased by 0.9%, indicating a partial recovery for the sector following a 2.7% drop in May.

Today's spike in inflation is extremely troubling for businesses across the hospitality and night-time economy. Without meaningful action on tax, energy prices, National Insurance, and business rates, many nightlife venues, bars, and late-night operators, already strained by soaring costs, labour shortages, and reduced consumer spending, risk being pushed beyond breaking point.

With its recent survey revealing that 52% of organisations are planning to cut expenses due to rising government costs, this issue will come even more into focus among UK businesses.

Employee turnover can cost 50% to 200% of an annual salary. Recruitment fees, lost productivity, and cultural impact lead to significant hidden business costs.