Local businesses highlighted the following challenges to Buckinghamshire Business First (BBF) in January 2025:
- Inflation and taxes: Businesses are struggling with inflation and taxes, which are making it difficult to maintain profitability.
- Energy costs: High energy costs continue to be a significant issue, with businesses facing higher operational costs than competitors in other European countries as a result.
- Funding and investment: Small businesses operating in the 'everyday' economy find it particularly difficult to secure grant funding .
- Business rates: Manufacturers believe they will be penalised by a new proposed multiplier for large premises, which aims to provide a subsidy to retailers with high street presence. Manufacturers often need large premises (over 500k sq ft) but do not have the profit margins of e-commerce distribution centres who are more able to afford the hikes.
- Infrastructure and planning: Businesses highlight infrastructure challenges, such as roadworks causing delays, and the planning system, as barriers to growth.
- Staffing and retention: Finding and retaining staff remains a major challenge, exacerbated by the current economic climate and firm's budget constraints.
- Debt and cash flow: Managing debt and ensuring positive cash flow are critical issues, with bad debts having a crippling effect on some businesses.
- Green initiatives: Whilst there is a desire to implement green measures, high upfront costs are often a barrier for businesses.
BBF use this 'on-the-ground' intelligence to inform local business support activity, and share it with central government on a monthly basis to inform national policy.
