By Liv Thomson

Small Business, Big Bills

The ongoing cost of living crisis here in the UK is affecting everyone, but small businesses are perhaps feeling the pressure more than most. Recent research has shown that 92% of small businesses across Scotland and the UK are growingly increasingly worried about their prospects of survival. Many are having to reduce staff, or even close down entirely.

Among main concerns being faced by small enterprises is the consistent rise in energy bills. According to Laurence Millar, from Utility Warehouse, the prices of energy in the UK and around the world are largely down to the “volitility” of what’s happening in other countries, such as the Russia-Ukraine war, strikes in Australia, and wildfires in California.

One business feeling the effects of these rising costs is Josh, owner of Iconic Studios. A business that thrives on a regular client base, the cost of living is causing people to go longer between appointments as “they can’t afford it”, meaning the business may see less clients in any given week.

But Josh knows the importance of ‘Iconic’. It is “an inclusive safe-space for all”, and has been an important part of the community for a few years now.

“We wanted to stand out…we want people to be who they want to be and just have fun.”

Josh, owner of Iconic Studios

Rachael, who runs baking business ‘Beauty and the Bakes’ out of her own home in Wishaw, has been struggling with price rises recently. She has voiced concerns that the cost of materials for her have “went through the roof”, and she is finding it difficult to raise product prices to compete with this. She attributes this to fear of people “going elsewhere”.

However, she remains hopeful. According to her, her business is “customisable”, and offers something unique for everyone, which is part of its popular local appeal.

Is it Worth It?

With no end in sight to the cost of living crisis, many businesses have been questioning how worthwhile it is to keep fighting for their passion.

But Councillor Ellen Freel impresses how “important” small businesses are, especially in small towns like Stewarton, where she lives.

“They offer something different. They are at the heart of the local community.”

Councillor Ellen Freel, Annick, East Ayrshire

While the cost of living crisis continues to be a concern for many small businesses, it is clear that the will to keep them alive is strong, as they are thriving additions to their local communities, beloved by customers, and would be sorely missed if they were to disappear.

For more information on the cost of living crisis and how small businesses can receive help, visit mygov.scot.uk.

Featured image and images throughout courtesy of Liv Thomson. No changes were made to these images.