Jim Shaw, Founder & CEO of Shaw & Co, looks at how, for today's UK SMEs, the past is now anything but a foreign country.
Over recent months, not only has the threat of nuclear Armageddon loomed over us, economic scourges such as burgeoning inflation - and counter measures such as rising interest rates - have heaved their destructive way into view.
Of course, the current inflationary pressure has been driven by goods rather than services, fuelled by Covid and subsequent widespread supply chain issues. During the pandemic we spent with aplomb – online shopping for games consoles, new TVs and things for the house that too often we just didn’t need. This huge uplift in demand then had a flipside with suppliers simply being unable to source the raw materials to produce the desired goods, thus pushing up prices.
So how else will this crisis impact your average SME? Jim Shaw, Founder & CEO of Shaw & Co, looks at the issue in Business Express magazine…
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