- October 4, 2021
- Posted by: Stratford Team
- Category: Business
Staff shortages are rippling out from the haulage, farming and hospitality sectors to almost all parts of the economy, putting “severe pressure” on medium-sized business across the UK, a new survey has warned.
More than a quarter of the 500 firms polled said the lack of staff was putting pressure on their ability to operate at normal levels, with reduced stock – due to the resulting supply chain disruption – hurting their business.
While some firms had considered cutting production, others were planning to raise prices, leading to concerns over rising inflation as the Christmas trading period approaches.
Nearly a fifth said they were increasing wages to attract new staff, while others were introducing extra perks to lure workers.
But the report, released by accountancy and advisory firm BDO, said the knock-on effects for consumers could be “significant”, with nearly one-third of businesses saying the prices would need to rise in the next three…