As we enter 2023 in the cost of living crisis, there are fresh concerns that small businesses will struggle to survive the year.
Consumers are continuing to cut back on their spending, adding further pressure on local businesses who have faced a challenging couple of years. Up until now, Covid support loans and low interest rates have meant for some that there have been ways to keep afloat.
These support streams are coming to an end, and at a time when energy bill support for firms is set to be scaled back, without any replacement solutions scheduled there is fear that many small businesses will collapse.
The government's Energy Relief Bill Scheme will expire in March and it has been said that businesses cannot be permanently shielded from the energy price shock.
In addition to financial concerns, there is an increasing emotional strain on small business owners who have to consider not only the difficulties of running their operations, but also the impact on staff and suppliers.
What Has Been Announced This Year?
In essence, a vicious cycle has developed for small firm owners - confidence is low in investing in their businesses' future which has a direct impact on growth.
Fortunately, small business owners are being provided with a course of free masterclasses in South Yorkshire.
Doncaster Council has put together a series of classes that will aim to benefit local organisations, all delivered by business advisers with a wealth of experience in various sectors. The masterclasses are
It is good news to hear that city councils and business leaders continue to have faith in the resilience of small businesses who are weathering the difficult economic environment.
How Could My Small Business Benefit?
If you are a small business worried about the increased cost of doing business, a number of local councils are offering masterclasses to provide essential support.
In many cases the courses are free and provide you with invaluable information in areas such as building your brand, managing your finances and how to upskill your current workforce.
A key focus for one of the talks will be enhancing the productivity of your business. This hopes to bring attention to ways your business can achieve its full potential. Open conversations and networking opportunities like those being offered in Doncaster are vital to share experience and learn from each other’s challenges as small business owners.
This is particularly important as the way in which our current work sectors continue to shift. Businesses are still finding solutions to meet the demands of workforces seeking to work remotely and achieve a greater sense of work-life-balance.
The courses will be led by business leaders from the region who will be on hand at the sessions and will offer further support after the sessions. To get tailored industry support at a time when you have concerns for your business could be just the help you need at the beginning of the year.
Council members are encouraging local businesses owners to attend some if not all of the courses, which could help provide insight into a business area that could help increase growth for this year, such as upskilling the current workforce.
Hope For Other Councils To Follow Suit
Although there are other positive initiatives developing including landlords creating creator flexibility on rent for empty sites, or even the trend of bigger chains snapping up brands going under, the picture painted for this year continues to be one of worry and uncertainty.
The hope is that other local councils will follow suit in showing their support for small businesses, who continue to navigate the challenging landscape of a post-pandemic economy.
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Source: Story.KISSPR.com
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