Inflation to hit the UK hardest, with half of business leaders expecting inflation to get worse in the next 12 months
SAN FRANCISCO, CALIFORNIA, 19th DECEMBER 2022 – UK businesses expect to be hit the hardest by inflation, according to new research from Taulia. Nearly half (48%) of UK businesses expect inflation to get worse in the next 12 months, higher than businesses in Germany (42%), Singapore (35%) and the US (21%).
The findings come at a time where nearly nine in 10 (87%) businesses are concerned about the impact inflation will have on their business.
More than two fifths (42%) of UK businesses predict that the current inflationary environment will continue for more than two years. An additional 44% of UK-based businesses expect today’s inflationary environment to last between one and two years.
Thomas Mehlkopf, General Manager and Head of Working Capital Management CoE for Taulia at SAP: “Alarm bells have started to go off for a significant number of UK businesses in the face of spiraling inflation as there is no clear end in sight. As a result, many are very clearly expressing their concerns about how long they can withstand the inflationary environment.
“Looking ahead, businesses will need to look at ways to help ease the growing financial pressures that come with rising inflation and this is where working capital management solutions have a vital role to play. These solutions work to unlock cash trapped in the supply chain and can help businesses not only survive but thrive during these turbulent times.”