Businesses in North Somerset continue to suffer as a result of record fuel prices, in spite of the government’s decision to postpone a rise in fuel duty originally planned for the beginning of the New Year.
The increased cost of fuel is just one of a number of issues impacting firms in North Somerset with companies up and down the region are struggling to cope under the strain of the current economic landscape which has forced businesses and consumers alike to rein in spending.
Rob Harris, local head of Close Invoice Finance, commented on the problems facing firms: “From talking to our clients in all sectors, the general consensus is that rising fuel costs remain one of their main concerns on a daily basis. This is having a huge impact on operating costs for firms of all sizes, with SMEs in particular being hardest hit.
“Bearing in mind that firms are already suffering, having been hit hard by the economic misery of recent years, coupled with consumer confidence being at an all time low, it is not hard to see how increased fuel costs are causing firms a lot of additional pressure, which is ultimately pushing some beyond their limits.”
Unfortunately, many North Somerset businesses are being forced to pass some of these costs onto the people they rely on the most – the customer.
“The fact that these increased costs are having to be passed onto customers does nothing to help companies, who are already struggling to survive, attract new business or hold on to current customers. When increased operating costs are passed down to customers the knock on effect on sales can be huge,” concludes Mr Harris.
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