Anne Griffiths

Small Business Risk at its Highest For Two Years

Small Business Risk at its Highest For Two Years

The risk levels of the UK’s small businesses are at their highest for two years with more than half (56%) of small firms voicing concerns over the current economic climate, Zurich has reported. The survey of over 1,000 small business owners found that almost two in five (39%) believe their business faces more risk now than compared with 12 months ago, with nearly one in 10 (8%) having considered closing down their business in the first few months of 2016. Red tape and workforce related issues were cited as the main areas of concern for business owners with 44% having noted that the skills shortage is holding them back. 39% also said that the weight of regulation and compliance is a stumbling block. This increase in risk levels has had a knock-on effect with 19% of small businesses ha... »