Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

£1.9 billion lost in income to UK SMEs as a result of supply chain delays

by July 19, 2023
July 19, 2023
£1.9 billion lost in income to UK SMEs as a result of supply chain delays

3.3 million SMEs have experienced supply chain delays in the last year, losing an average of £625,000 in income each as a result, according to new research from Aldermore’s SME Growth Index.

Growth opportunities hit by supply delays

One in four SMEs who have experienced supply chain delays in the last year have seen a financial impact on their business (27%). The delays have led to increased costs (40%), delays to existing projects (36%) and difficulties in securing new deals (23%).

Industries that are reliant on materials were particularly vulnerable to these challenges, with SMEs in the wholesale, retail and franchising sectors, estimating they had lost five-times more than the average business.

Lack of supply chain awareness is putting SMEs at risk

More than half of businesses are vulnerable to supply chain shocks due to lack of awareness – over a third of decision-makers are only aware of their direct business customers and suppliers, and 29% admit to having no knowledge of them at all.

However, a significant number of businesses are taking action as a result. 58% of businesses have undergone a full supply chain audit or put contingency plans in place to minimise future disruption and plan ahead should problems arise.

Tim Boag, group managing director of Business Finance at Aldermore, comments: “Supply chain issues can impede the growth of SMEs, limiting their ability to reliably deliver for their customers on existing projects or pursue new opportunities.

“With delays still making headlines and impacting profits, it’s important for every business leader to consider if there are any vulnerabilities that expose them. This can be done through a supply chain audit or the development of a contingency plan. This will help build stronger relationships and clearer communications so businesses can react quickly should they be notified of changes that might impact their supply chains.

“With the current backdrop of economic uncertainty, SMEs need to take steps to protect themselves against unwanted shocks.”

Read more:
£1.9 billion lost in income to UK SMEs as a result of supply chain delays

0
FacebookTwitterGoogle +Pinterest
previous post
Hiring confidence reaches a two-year high as applications rise and time to hire drops
next post
A third of workers seek jobs that offer mental health support

You may also like

Hunt plans overhaul of pensions tax to boost...

November 7, 2023

Gordon Ramsay combines UK and US restaurant businesses...

February 17, 2025

UK economic forecasts called into question as ONS...

April 2, 2025

eSIM in Turkey: a game-changer for group travel

May 3, 2025

EU proposes €2 handling fee on online parcels...

May 21, 2025

UK retailers are missing out as shoppers are...

May 18, 2023

Pound sinks to nine-month low as recession fears...

January 5, 2025

The Cycling Boom: The Summer Cycling Holidays Of...

August 3, 2023

UK consumers lose £580m to fraudsters in first...

October 25, 2023

Banks ‘risk reputations’ by failing to help borrowers

February 14, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,570)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved