Andrew Griggs BA FCA CF
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View all peoplePublished by Andrew Griggs on 19 April 2022
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Owner-managed businesses employ three-fifths of the UK workforce, they are the backbone of the UK economy. Having navigated Brexit, the pandemic and looked forward to a period of economic stability, they are now confronted with the challenge of rising inflation and increased energy costs.
This research, conducted by the Association of Practising Accountants (APA) and Kreston Reeves, is an assessment of the challenges owner-managed businesses now face. It captures a representative sample of the aspirations and concerns of these entities as they seek to navigate a post-Brexit and post-pandemic landscape.
Despite these challenging economic headwinds, there is also evidence that those businesses that have survived the pandemic are now more resilient and more confident:
Andrew Griggs, Senior Partner at Kreston Reeves, said: “As businesses continue to understand and adapt to a rapidly changing economic landscape, now is the time to rethink and look towards building a business for the next decade. That will mean addressing immediate challenges and, in the longer term, recalibrating business models. A ‘whole business’ view and an investment mindset is needed to prepare for and shape the future of your business.”
We work alongside and advise many businesses facing these issues. If you would like some guidance on any of the topics covered in this report, please get in touch. Alternatively, we have a library of helpful content to support businesses with their planning.
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