Supply chain pressures to lead to Christmas price hikes, companies warn

Smaller businesses are preparing to hike prices over the Christmas period as they continue to feel the strain of rising costs and supply chain disruption, according to a new report.

Around four in five mid-sized firms said they are expecting supply-chain strains, rising costs and Covid-19 restrictions to hamper trading in the next month.

A further third said that they were planning to up their prices, according to a survey of 500 businesses from accountancy firm BDO.

Businesses have been battered by the combination of rising utility and fuel costs over the autumn and bosses now say they expect this to impact consumers in the period ahead.

Around 32% of mid-sized firms in the retail and wholesale sector said they will increase prices, while 32% of businesses overall said they plan to cut the number of products or services they offer as a direct result of inflation.

Manufacturing businesses are bearing the brunt of the pressures, with around 39% planning to decrease the number of products on offer and a similar number set to increase costs of their products and services.

Ed Dwan, partner at BDO, said: “Following a year of disruption, many businesses will have been hoping for a strong finish to 2021 and a fresh start for 2022.

“The harsh reality is that continued supply chain issues, rising energy prices and increasing costs means that many are taking further drastic measures to stay afloat.”

Bosses have warned that the return of Covid-19 restrictions could place further strain on the availability of goods and services.

Around 45% of firms said that shoring up their domestic and international supply chains was a priority for the next three months.

Businesses said that inflationary pressures were likely to restrict growth in the longer term with just over a quarter of firms saying inflation and higher interest rates were likely to have the biggest impact on their business in the next year.

In a separate report by small business network Simply Business, one in five small firms said they don’t expect to survive 2022 without a bumper Christmas this year and over a quarter said they were not confident about their business’s chances this December.

News Related


Government pledges £100m for Sizewell nuclear site

The government is putting up £100m to support the planned Sizewell C nuclear plant in Suffolk, Business and Energy Secretary Kwasi Kwarteng has announced. The investment marks the latest stage ... Read more »

Whitmer proposes tax cuts, more mental health workers

© Provided by Associated Press Michigan Gov. Gretchen Whitmer stands behind a podium before a pre-taping of her State of the State address, to be done live later in the ... Read more »

Orf with her hair! German Waxwork model of The Queen is left BALD under her hat... to avoid museum splashing out too much money on real locks

German wax museum Panoptikum revealed figure of the Queen has a bald scalp Photographs of the Queen's wax figure with no wig on at all have been shared Dr Susanne Faerber lifted the headwear off model of the 95-year-old monarch  Read more »

Canada police fear violence at trucker vaccine protest

The Associated PressProtesters and supporters against a COVID-19 vaccine mandate for cross-border truckers cheer as a parade of trucks and vehicles pass through Kakabeka Falls outside of Thunder Bay, Ontario, ... Read more »

Medical marijuana bill passes, heads to Mississipi governor

The Associated PressState Sen. Kevin Blackwell, R-Southaven, lead negotiator, holds a tube containing a cigarette and a rolled hemp cigarette to illustrate to lawmakers what specific portions of the Mississippi ... Read more »

Check Out Four Tesla Semi At A Megacharging Station

© Copyright Tesla Semi trucks at a fast charging (Megacharging) station at the Gigafactory 1 in Nevada Is it the first Tesla Semi fleet in the world? Tesla has ... Read more »

Hilary Duff's Husband Teases Her About Possibly Spotting Her Ex at Dinner

© Michael Kovac/Getty Images for Adopt Together Hilary Duff‘s probably going to think twice the next time she spots an ex-boyfriend in her vicinity, thanks to the hilarious ordeal her ... Read more »

Arsenal news: Victor Osimhen transfer eyed after Pierre-Emerick Aubameyang humiliation

Arsenal could swoop for Napoli forward Victor Osimhen before the transfer window closes next week, it has been claimed. But Mikel Arteta’s side could face competition for the player’s signature ... Read more »

Moderna startet klinische Studie zu Omikron-Impfstoff

© Keystone/dpa/Uwe Anspach Der Hersteller Moderna hat seine erste klinische Studie zur Untersuchung eines speziell auf die Omikron-Variante zugeschnittenen Corona-Impfstoffs begonnen. Insgesamt 600 Freiwillige – teils mit zwei oder bereits ... Read more »

Courteney Cox says Johnny McDaid's intelligence is 'really sexy'

© Bang Showbiz Courteney Cox thinks Johnny McDaid’s intelligence is sexy Courteney Cox thinks intelligence is “really sexy”. The 57-year-old actress has been dating Johnny McDaid since 2013, and she’s ... Read more »

The question that finally stumped ‘Jeopardy!' champ Amy Schneider

Contestant Amy Schneider’s 39-game winning streak has come to an end. Casey Durkin/Sony Pictures Telev Amy Schneider’s “Jeopardy!” winning streak has finally come to an end. Last week, the 42-year-old ... Read more »

Islanders will need to finally beat top teams to prove momentum is real

The Islanders have played better of late. Much better. After beating the Flyers 4-3 on Tuesday night, they’re 5-2 since their season restarted, and on points percentage, they’re in third ... Read more »

Prime Minister under pressure to explain role in Afghan animal airlift

Boris Johnson is coming under increasing pressure to explain his role in the evacuation of animals from Afghanistan amid reports he did influence their removal from Kabul – despite his ... Read more »

Trump claims McConnell needs his endorsement to win

© Getty Images Mitch McConnell – Getty Images The former president of the United States once again tried to reignite a public battle with Senate Minority Leader Mitch McConnell on ... Read more »

Emmerdale's Meena's downfall 'sealed' as fans 'work out' Princess twist on ITV soap

Emmerdale fans think they have worked out how murderer Meena Jutla will get her comeuppance after she fled to Glasgow following her crimes being exposed. Only recently, Vinny Dingle was ... Read more »

Elon Musk says Tesla's humanoid robot is the most important product it's working on — and could eventually outgrow its car business

© Tesla/Reuters A rendering of the Te lsa Bot. Tesla/Reuters Elon Musk says Tesla’s humanoid robot is the most important product it’s developing in 2022. Tesla is also working on ... Read more »

Amy Schneider's historic 'Jeopardy!' win streak comes to an end after 40 victories

She has the second-longest win streak in the quiz show's history, is the first transgender contestant to make it to the Tournament of Champions and won close to $1.4 million. Read more »

MPs raise concerns about leak of hike in living wage in last budget

© Provided by The Guardian Photograph: Stefan Rousseau/PA MPs have expressed “deep concern” over the leaking of price-sensitive information before Rishi Sunak’s budget last year and warned the chancellor his ... Read more »

RFK Jr tells The Independent why he compared vaccine mandates to Holocaust

Leading anti-vaxxer Robert F Kennedy Jr has denied comparing vaccine mandates to life under the Nazis and claimed he was trying to say modern technology was set to lead to ... Read more »

Sofia Andres' OOTDs in Portugal Are Proof That Accessories Can Make All the Difference

© Provided by Every step Sofia Andres has made in Europe has been an insanely stylish one. Along with her beau Daniel Miranda, and their baby Zoe, the actress ... Read more »

Biden and Breyer to hold event at White House on Thursday, source says

President Joe Biden and Supreme Court Justice Stephen Breyer are scheduled to appear together at the White House on Thursday as the 83-year-old justice is set to announce his retirement, ... Read more »

North Korea fires 'projectile' in sixth test of 2022

North Korea fired an “unidentified projectile” early Thursday, Seoul said, its sixth apparent weapons test this year as the nuclear-armed country flexes its military muscles and ignores Washington’s offers of ... Read more »

Bank of America raises base pay for top bankers - source

(Reuters) – Bank of America Corp is raising the base salary for senior bankers, according to a person familiar with the matter, its latest attempt to retain top talent in ... Read more »

14 Products We 100% Expect To Sell Out This Week: Limited-Edition Converse, COVID-19 Test Kits

Alright. We’ll admit it. We’ve got some serious FOMO right now. As SPY editors, we practically spend the entire day perusing the internet for stellar deals across a multitude of ... Read more »

The Best Gifts for Football Fans You Can Order Right Now

All products and services featured are independently chosen by editors. However, SPY may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable ... Read more »

Vel'koz to receive VFX update on League 12.3 PBE Patch

© Provided by Dot Esports Vel’koz, The Eye of the Void, will be receiving a number of visual effect updates during the 12.3 PBE Patch. This is a part of ... Read more »

Trading cards now include Authenticity Guarantee on eBay

© Provided by Dot Esports Trading cards are among some of the most sought-after collectible items on the internet. Given this and the huge popularity of eBay as a marketplace ... Read more »

Thank you, Justice Breyer, for not repeating Ruth Bader Ginsburg's mistake

Democrats finally got some good news Wednesday, and it came from the unlikeliest of places: the Supreme Court. After a year of Democrats cursing the court as the place where ... Read more »

Bogus election claims in Michigan end up in draft order to seize voting machines nationally, state official says

Debunked election fraud claims made in Michigan by former President Donald Trump’s legal team ended up in a draft executive order directing the military to seize voting machines nationally, the ... Read more »

Dozens of guns among Los Angeles train loot: police

© Patrick T. FALLON An average of 90 containers a day are being vandalised in Los Angeles County Dozens of guns have been stolen from freight trains that have been ... Read more »

ANC's Days of Zondo: Ramaphosa's ‘task team' faced with a task from hell

This ANC task team certainly has the complicated task of guiding the party’s response to the Zondo report. The party is likely to be fundamentally split on how it should ... Read more »

Bank of Canada keeps benchmark rate unchanged despite inflation

© Nicholas KAMM The timing and pace of Canadian interest rate increases will be guided by the rate of inflation, according to the country’s central bank The Bank of Canada ... Read more »

Queensland's Covid cases dip with 11,600 new infections and 15 deaths - as hospitalisations in the Gold Coast drop

New cases of Covid-19 drop in Queensland but deaths increased to 15 peopleThere are now 829 people in hospital compared with 889 people yesterday  Read more »

Tesla's Elon Musk Outlines Ambitious Future, but No New Models This Year

© Tesla The Cybertruck, Roadster, and Semi will continue to be developed in 2022, but Tesla will prioritize reaching full self-driving that’s better than a human. During an earnings call ... Read more »

Russia sparks panic by sending fake signals that warplanes are about to attack Ukraine

RUSSIA sparked panic by sending fake signals that its warplanes were taking off to attack Ukraine, it was revealed yesterday. Vladimir Putin’s boffins are believed to have placed military jet ... Read more »

My girlfriend had drunk sex with a woman but said it's not really cheating

DEAR DEIDRE: MY girlfriend admitted she slept with another woman when she was drunk. She says it meant nothing and that she loves me, but I’m not sure I believe ... Read more »

Justice Stephen Breyer will weigh these key SCOTUS cases before he retires

Supreme Court Justice Stephen Breyer only has a few months left on the bench, as he reportedly plans to retire at the end of this term, but before he steps ... Read more »

Most Aboriginal Australians 'are saying don't change the date', expert claims – as thousands take to the streets

Indigenous professor says Aboriginal people have bigger issues to worry about Tens of thousands of people took part in 'Invasion Day' rallies across AustraliaSignificant fall in recent years in the number of people celebrating Australia Day  Read more »

Video: Tens of thousands gather in protest at German Covid rules as other European nations finally start dropping restrictions despite cases still going up - including Holland where bars will reopen after being shut for more than a MONTH

Read more »

President Biden, it's you – not Republicans – who's bereft of ideas

Former Secretary of State Mike Pompeo argues Joe Biden‘s cheap rhetoric is emblematic of his unwillingness to obtain advice from anyone beyond his handlers. AP Mr. President, you asked in ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic