Delta blues batter business

Delta blues have left business owners battered and bowed, weighed down by months of lockdown and prolonged restrictions across the country.

The Alternative Board’s Spring Pulse Check released this week reveals many business owners are ready to sell up while those struggling on want greater clarity from Government, firm policies and more support.

Alfredo Puche of The Alternative Board said: “Results show we’ve reached a watershed moment. Confidence has plummeted, flipping from great in our Winter Pulse Check to grim in this edition. We’ve seen frustration and dissatisfaction setting in and business owners are full of trepidation over the future of the economy.”

Cashflow is under pressure and, with owners facing a sharp rise in input costs, most intend to raise their own prices. Good management is easing ongoing and deteriorating supply chain issues but with more cash tied up in inventory, some report a grim struggle as they fall further behind.

Problems caused by worker and skills shortages are on the rise and there’s a clear divide between businesses who have sorted out their vaccination policy and those who want guidance and support from Government on the issue.

Alfredo Puche added: “Well publicised supply constraints and increasing freight costs are hitting business owners in the pocket, with most intending to pass on those increased costs through price rises of their own. The road ahead seems destined for some tough economic times with inflationary pressures combining with rising interest rates, a difficult labour-supply situation and inevitable business failures following prolonged lockdowns.

We are really concerned about those who are feeling more isolated as they deal with ever-increasing pressures and, as the weather outside warms up, business owners are haunted by the icy spectre of inflation freezing confidence and stunting growth.”

The Alternative Board supports small to medium sized businesses and their owners through advisory boards consisting of other local business owners, expert one-on-one coaching, a suite of business planning tools and business mentoring. The Pulse Check is run as a regular monitor of the sector. The Spring edition surveyed 727 of our members and associates between 27 October – 1 November with a confidence level of 90% and a 5% margin of error. To see the Pulse Check results click here