- 64% of the small businesses in Manchester have been hit by rising inflation, affecting their investments in training and skill development, as per eBay UK.
- The research has highlighted that 58% of small business owners are dealing with financial problems.
- Chancellor Rishi Sunak has pledged to deal with the cost-of-living crisis, targeting tax reductions for businesses in the upcoming autumn budget.
Small businesses in Manchester are suffering severely due to the rising inflationary pressure. According to the latest report by eBay UK, 64% of the small businesses in Manchester have been hit by rising inflation, affecting their investments in training and skill development. For the first time, all the segments of their businesses, from energy and rent to supply chain and wages, have been impacted by increasing prices.
As per the research, 58% of small business owners are dealing with financial problems, with 71% saying that they would not be able to make investments in their businesses as the inflation levels are going up. Rising costs of running businesses could lead to 40% of the businesses laying off people, and 31% of the businesses could even collapse if the inflationary trend continues.
Not just for Manchester, the UK Government is expected to step up to protect the entrepreneurial spirit of the entire country by providing financial support to small businesses and helping in their expansion. It is essential to enhance the resilience of small businesses as the cost-of-living crisis has been spiralling in the country, affecting the living standards of millions.
According to the data released by ONS on May 18, the UK inflation reached a 40-year high level of 9% in April. In response to the skyrocketing inflation figures, Chancellor Rishi Sunak has pledged to deal with the ongoing crisis, targeting tax reductions for businesses in the upcoming autumn budget.
To support the small and medium high-growth businesses in their journey to go public, the London Stock Exchange’s Alternative Investment Market (AIM) offers a great platform. Investors can buy the stocks of these growing businesses and in turn support the entrepreneurs in realising the full potential of their companies. Here are 3 AIM-listed stocks that investors may keep an eye on.
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Bens Creek Group plc (LON: BEN)
Bens Creek Group plc is a UK-headquartered company which operates metallurgic coal mines in Northern America. The shares of the company were down by 4.22% at around 11:45 AM (GMT+1) on 19 May 2022, at GBX 79.50. The company was admitted to the AIM recently in October 2021, and it has given its shareholders a YTD return of 157.78% as of 19 May 2022. The current market cap of Bens Creek Group stands at £293.85 million.
Hurricane Energy plc (LON: HUR)
Hurricane Energy plc is a UK-based company engaged in the exploration and production of hydrocarbon resources. The shares of the company were down by 5.64% at around 11:45 AM (GMT+1) on 19 May 2022, at GBX 9.20. The company has given its shareholders a significant return of 1,145.54% over the last one year as of 19 May 2022. The current market cap of Hurricane Energy stands at £194.21 million.
Borders & Southern Petroleum plc (BOR)
Borders & Southern Petroleum plc is a UK-based independent company exploring oil and gas resources in the Falkland Islands. The shares of the company were trading at GBX 4.56 at around 11:45 AM (GMT+1) on 19 May 2022. The company has given its shareholders a return of 420.16% over the last one year as of 19 May 2022. The current market cap of Borders & Southern Petroleum stands at £26.78 million.
Tags: AIM stocks, inflation, cost-of-living crisis