Cold weather hits UK business particularly hard
Britain’s prolonged cold snap has had a devastating impact on UK business, with figures from a survey conducted by the Federation of Small Businesses (FSB) revealing that more than half (55%) of small firms have been hit hard by the spell of unseasonable weather.
The FSB argues that businesses have lost out by an average £1,580, resulting in a staggering collective loss of £174 million.
Further figures from the research indicate that six in 10 of the small business owners questioned felt their companies suffer as the weather deteriorates, with loss of demand (30%) and closures (26%) among the most common issues cited.
For businesses that were forced to temporarily shut up shop, an average of 2.2 days were lost, while 27% of firms also argued that the cold snap led to staff being absent for at least one day.
"We may finally have turned a corner into spring, but it's been a long haul, following the coldest March in 100 years," Mike Cherry, National Policy Chairman, Federation of Small Businesses, said.
"While a few businesses have managed to take advantage of the weather many have found it difficult to manage. Not only have they had to cope with a lack of demand for products, but many have had to close.
"Our fear is that this prolonged cold spell will mean people are travelling by car to supermarkets or out of town shopping centres rather than utilising local shops. We need people to Keep Trade Local and support local businesses that may be struggling as a result of the weather."
The British Retail Consortium (BRC) argued that the areas in the East Midlands and the south west of England were the worst affected regions, with "footfall" last month 5.2% lower in a year on year comparison.
Restructuring specialists
The cold weather is just one factor that may be having a potentially negative impact on your business at the moment.
If your business is struggling in the current climate, you may want to seek professional advice on company voluntary arrangements as you consider your financial future.