Navigating high inflation and rising energy costs: Strategies for small business success

Small businesses are pivotal in reviving the UK economy, and they play a vital role in creating jobs and driving economic growth. However, high inflation and rising energy costs can present significant challenges for small businesses.

These challenges can make it difficult for businesses to maintain profitability and continue to operate successfully. In this blog post, we’ll explore some strategies that small businesses can use to mitigate the impact of high inflation and rising energy costs and continue to thrive.

One strategy small businesses can use to deal with high inflation is to review their pricing and consider raising prices on goods or services.

By increasing prices, businesses can offset the cost of inflation and maintain profitability.

However, it’s important to consider the impact on customers and the competitiveness of the market before implementing any price changes. For example, a small coffee shop could raise the prices of their coffee … Read more

UK battery start-up Britishvolt makes majority of 300 staff redundant after entering administration

Hundreds have lost their jobs after British electric car battery company Britishvolt fell into administration.

The majority of Britishvolt’s approximate 300 staff have been made redundant, administrators said, after the group made an application for administration to the courts on Tuesday.

It followed talks with investors over a possible sale to keep the firm afloat.

Britishvolt has been on the brink of collapse since £100m of promised government funding to build a planned battery gigafactory was delayed due to key targets for the investment being missed.

The move will have implications for Britain’s vehicle manufacturers, which experts say need battery factories to stop much of the country’s car production from shifting to mainland Europe.

Downing Street issued a statement soon after the news was announced saying it was aware of the speculation but would not comment directly on the firm, saying “we will await further updates from that specific company”.… Read more

UK commits to further talks with EU to break Northern Ireland Brexit impasse

The UK foreign secretary, James Cleverly, and the European Commission’s vice-president, Maroš Šefčovič, have committed to further talks to resolve the dispute over Brexit trading arrangements in Northern Ireland.

Following a “stock-taking” meeting on Monday afternoon, they agreed to continue what they described as “scoping work” to find potential solutions in a “constructive and collaborative spirit”.

UK government sources said there were still “significant gaps” in approaches to the Northern Ireland protocol and the sides were some distance from an agreement.

“The two sides discussed the range of existing challenges over the last two years and the need to find solutions together to tackle comprehensively the real-life concerns of all communities in Northern Ireland and protect both Northern Ireland’s place in the UK’s internal market and the integrity of the EU’s single market,” they said in a joint statement.

“They agreed that this scoping work for potential solutions should continue … Read more