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In Focus Commercial Credit
A chain of hope
Research fi nds that supply chain crisis costs UK SMEs £3.9bn
Tim Boag Group managing director, business fi nance at Aldermore
Our new research has found that over half (54% or 2.1m) of all UK small and medium- sized enterprises (SMEs) have been impacted by the ongoing supply chain crisis in the last 12 months.
Delays continuing to impact SMEs Persistent supply chain problems have continued to plague businesses, as a result of a number of factors including labour shortages, global supply problems brought about by the pandemic and Brexit trade
barriers. Supply chain issues have a signifi cant impact on the ability of UK businesses to run eff ectively, leading to increased costs (51%), delays in crucial projects (48%) and missed opportunities for growth (37%). 890,000 SMEs have seen a direct fi nancial
impact on their business as a result of supply chain problems, costing each business impacted an average of £881,196 – a total cost of £3.9bn in lost earnings for the wider UK SME business community. The hardest hit sectors included technology
(89%), manufacturing (88%) and construction (77%), all of which are particularly reliant on sourcing raw materials to maintain their activities.
Anticipate Nearly one in fi ve UK SMEs (18%) anticipated that ongoing supply chain issues will be one of the main barriers to running their business over the next year. Experts have also cited that they anticipate supply chain problems will continue for up to
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www.CCRMagazine.com
June 2022
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