winter

Coldest Winter in 31 Years Costs Small Businesses

Coldest Winter in 31 Years Costs Small Businesses

UK small businesses are facing combined losses of more than £7 billion following the coldest winter since 1979, research by Lloyds TSB Commercial has found. The survey of 1,000 small businesses found that 70% had their trade affected by the extreme weather conditions. The research also highlighted that 39% were directly affected (forced to close their premises or cut off by snow and ice), while 42% were indirectly affected (disrupted supplies and deliveries). Only 23% of firms remained unscathed, while seven per cent said the big freeze had actually helped their business. “Businesses have faced a double blow over the past six months,” said Lloyds TSB Commercial head of external affairs, Stephen Pegge. “They have had to grapple with the downturn in trade as a result ... »