Sales have fallen by a tenth for small businesses in Britain as customers tighten their belts in response to the cost-of-living crisis, according to figures.
The Office for National Statistics (ONS) said sales values slid by 10% at small firms in July compared with the previous month, representing the heaviest fall since the onset of the coronavirus pandemic in April 2020.
Shoppers have reassessed their spending patterns in recent months as they face the prospect of continued surges in energy bills. Meanwhile, small firms have also warned they could face closure due to energy cost rises.
