Turnover of 20% UK trading businesses decreases in Mar 2022 over Feb

In comparison, the percentage of businesses who reported an increase in the prices of materials, goods or services sold increased from 17 per cent to 24 per cent over the same period, according to the Officie of National Statistics (ONS).

Almost a third of currently trading businesses (31 per cent) reported they expected the price of goods or services sold in April 2022 to increase (excluding seasonal changes), with energy prices (41 per cent) reported as the main factor for businesses considering raising their prices.

In late April, having to absorb costs (38 per cent) and having to pass on price increases to customers (27 per cent) were reported as the biggest impacts on businesses because of general price rises; these percentages have increased slightly since early March from 35 per cent and 24 per cent respectively.

In late April, 31 per cent of businesses reported their production and suppliers had been affected by recent increases in energy prices, with the accommodation and food service activities industry reporting the highest percentage, at 64 per cent.

Among businesses not permanently stopped trading, 7 per cent of businesses reported their stock levels of raw materials in March 2022 were lower than in February 2022, whereas 4 per cent reported stock levels were higher; across the same period, 6 per cent of businesses reported their stock levels of finished goods were also lower.

ALCHEMPro News Desk (DS)