Snow costing UK economy £600 million a day
It is estimated that the snowy weather in the UK is costing UK businesses £600 million a day at a time when few businesses can afford to give away trade. A mixture of staff absence numbers and missed trade is beginning to add up and becoming a major concern for the UK government.
It is no secret that many small to medium-sized businesses (and a few larger businesses) are literally trading on a shoestring with their finances stretched to the limit. If this bad weather was to continue for some time in the UK there is a chance we could see a number of businesses going to the wall purely and simply because consumers are not able to get out onto the high street and life is taking some time to get back to normal.
The UK economy has had a very difficult 2 years and just when the signs were starting to emerge that the economy was pulling out of recession this is a body blow for small businesses in the UK. Whether the UK government will be able to offer some kind of financial assistance in the short to medium term remains to be seen but the situation has suddenly gone from bad to worse.
Share this..
Related stories
Analysts believe £200 billion Bank of England injection saved UK economy
The Bank of England MPC today announced no change in UK base rates are no change in the Bank of England's policy of suspending the quantitative easing program. These announcements come as no surprise to UK economists who have heralded the quantitative easing program on its anniversary. So would the UK economy have recovered without the £200 billion quantitative easing program? Analysts are now...
Read MoreWill the UK economy mirror the US?
As the US economy starts to stabilise, and appears ready to form a base for the future, there is a growing feeling that the UK is headed in a similar direction. Even though the UK economy may in the minds of many economists be slightly ahead of the US, in that a stabilisation period seems to have been initiated some weeks ago, there is a feeling that the journey of the two economies to recovery wi...
Read MoreConfidence is the key to recovery in the UK economy
While the UK government tries to talk up the UK economy, banks attempt to gloss over rising bad debts and surveyors suggest that UK property prices are on the rise, the truth is that until we see a definitive return of confidence to the consumer and investor markets the UK economy is going nowhere. Confidence is the key to any recovery in the UK property market and the UK economy as a whole and un...
Read MoreE-Clear instructed to hand over £35 million Flyglobespan money
PricewaterhouseCoopers, the administrators for fallen Scottish airline Flyglobespan, has today gone public with a demand that £35 million which has been withheld from the company is released immediately by credit firm E-Clear. It looks as though there will be a formal investigation by the UK government with regards to the relationship between Flyglobespan and E-Clear with many concerned that the...
Read MoreHow safe is the ongoing recovery in the UK economy?
There is no doubt that the last few weeks have been dominated by more positive reports being released regarding the UK economy, and the potential recovery in 2009, which could follow on into 2010. The property market is showing signs of life, the CBI has suggested finance is more available than at any time over the last few months and it would appear (from some reports) that the UK economy is reco...
Read More