UK Inflation Is Hurting Many Businesses

Businesses across the U.K. are buckling under inflation, and many are closing their doors. With the war in Europe, the high cost of goods, low consumer demand, and the skyrocketing cost of gas have forced businesses to shut their doors. British consumers are delaying big-ticket purchases, such as cars, furniture, and expensive vacations. Businesses were strained during the pandemic, and as COVID restrictions were lifted, they dealt with supply shortages to meet demand. The added pressure of the Russia-Ukraine war and the crippling cost of living have put further pressure on the U.K. economy that some businesses cannot withstand.