The Bank of England has hiked the interest rate to 1.75 per cent in the biggest increase for 27 years.
The cost-of-living crisis is said to continue throughout next year and only begin to ease in 2024, with the UK economy contracting for five consecutive quarters, according to the Bank’s latest forecasts
Inflation is set to continue to increase over the winter period with soaring gas prices meaning that businesses and their employees could face even higher energy bills.
For Worcestershire businesses, the interest rate rise may affect a variety of aspects of your business from loan repayments, energy bills and more. If you are a Worcestershire business unsure of how this may impact your business, and want to speak with an expert, our professional business advisor programme is here to help.
Simply contact our team using the details below and we will get your business booked onto one of our FREE sessions to ensure that you understand how this affects your business.
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