UK Economy โ Insights for Business Owners
1. Did You Know?
The Bank of Englandโs interest rate decision was lunch time TODAY!.
Great news the Bank of England base rate has dropped by 0.25% to 4.25%.
Rates have a direct impact on borrowing costs, mortgage repayments, and consumer spending โ all critical for small businesses. Staying ahead of rate changes helps with cash flow planning.
2. Insight:
SMEs make up over 99% of all UK businesses.
Despite their size, small and medium-sized enterprises (SMEs) account for about half of UK private sector turnover โ showing how much influence small business owners really have on the economy.
3. Did You Know?
Inflation has shifted buying behaviours.
UK consumers are becoming more value-conscious, opting for deals, bundles, and loyalty rewards. Businesses that offer flexibility and transparency tend to perform better in this climate.
4. Insight:
Digital adoption is no longer optional.
Post-Brexit and post-COVID, UK businesses that have digitised their operations โ including payments, CRM, and marketing โ are growing 2x faster than those that havenโt.