In light of this morning’s inflation rate announcement, Michael McGowan (pictured), Managing Director, Foreign Exchange at Bibby Financial Services, commented:
“Today’s announcement that UK inflation has fallen to 2.3 per cent is welcome news for UK businesses, as optimism steadily builds at the prospect of a sounder economic environment.
“Small and medium sized enterprises (SMEs) have particularly struggled over the past two years, with our polling of 1000 SMEs recently revealing inflation to be the number one challenge they face. High business costs have been keenly felt, and no small degree of resilience has been required of small businesses to weather the storm, to now.
