More than a third of business in the West of England are being forced to restructure operations in a bid to cope with mounting cost pressures, new research has revealed.
A combination of rising inflation, increased interest rates, high energy costs and ongoing supply chain issues are significantly impacting the financial viability of many firms in the region, according to a new report from Grant Thornton UK.
The Business Outlook Tracker found over one third (34%) of mid-sized businesses in the South West have restructured in the hope of overcoming economic challenges, with a further 46% planning to do so. It also found 42% of business leaders in the region had reviewed their headcount due to the same pressures.
