🛍️ With inflation still in double digits, consumers have drastically reined in their spending and the impact on small businesses is nothing short of devastating
December 14, 2022 3:27 pm
Small businesses have said the current economic climate is still “incredibly bleak” for them, despite inflation edging down slightly in November to 10.7 per cent, from 11.1 per cent in October.With inflation still in double digits, consumers have drastically reined in their spending and the impact on them is nothing short of devastating.
Gaynor Lockwood Edwards, owner of the Dronfield-based crochet business Quirky Cactus, said: “Things are incredibly bleak at the moment. Costs are rising across the board,Ms Lockwood Edwards said she had recently applied for an overdraft and started to use a credit card in anticipation of January, adding her sales this December were down 64 per cent compared to last December.
“Online sales have been few and far between, due to the cost of living crisis and postal strikes, while face-to-face sales at craft fairs have also plummeted.
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