One in eight owners of small businesses fear they will fold, according to the annual Venture Forward study by website builder GoDaddy.
The annual Venture Forward study by website builder GoDaddy found that only a fifth of microbusiness owners think the government is doing enough.
"They are the lifeblood of businesses in the UK and it's them that are on the frontline very much feeling the direct impact of the cost of living crisis," he said. The study estimates that if the 12% of microbusinesses under threat went under, it would wipe £12bn from the economy. A total of 85% of black entrepreneurs described it as the worst time they can remember, as did 84% of those who are Asian compared with 75% of white entrepreneurs.
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