Key issues local businesses highlighted to Buckinghamshire Business First (BBF) in December 2024 included:
- Increased costs due to the increase in employer National Insurance Contributions announced in the Budget. This is particularly challenging for people-heavy service businesses on tight margins. Some firms plan to reduce staffing levels and to use sub-contractors, freelancers and outsourcing services to fulfill short-term needs.
- Low demand for products and services as consumers continue to experience cost of living challenges.
- Recruitment difficulties / skills shortages - partly due to people being reluctant to leave existing roles in financially challenging times.
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.