| Inflation 'increases for small businesses' |
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 Small businesses are facing increasing costs which are double the rate of inflation in some cases, a report has found.The Big Inflation Guide (BIG) launched by MORE TH>N BUSINESS in conjunction with the Warwick Business School claims that small businesses are tackling annual cost rises of 9.9 per cent. In the second quarter alone, the report claims that small businesses suffered cost increases of 3.4 per cent. Mike Bowman, head of MORE TH>N BUSINESS, said that his organisation expected that small firms were being hit hard by inflation as there was no data to confirm this. He explained that this was the impetus for the BIG project and that "the results surprised even us". Mr Bowman said: "These businesses are the unsung heroes of the British economy, representing over 1.6 million businesses in the UK.". He went on to say: "Now that we have a true picture of rising costs for small businesses, people will be asking the government what realistic measures can be taken to support them, particularly in the current economic climate." In related news, Startups.co.uk recently reported that Research from business insurer Premierline Direct highlighted that online spending among smaller firms has increased by 40 per cent, with many claiming this saves them money and time.  |
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