1 Sep 2022

Small businesses could be forced to close as sales decline and energy costs skyrocket

If households are facing a struggle, the scary bills are also mounting up for small businesses, which are being squeezed by rising prices and falling sales as customers cut back their spending.

A new report by the Office of National Statistics reveals that the value of sales dropped by 10% in July compared to the previous month.

Some firms are already warning they could be forced to close.