{"id":39120,"date":"2025-07-04T08:27:33","date_gmt":"2025-07-04T08:27:33","guid":{"rendered":"https:\/\/www.simplybusiness.co.uk\/?post_type=knowledge&#038;p=39120"},"modified":"2025-07-04T08:27:34","modified_gmt":"2025-07-04T08:27:34","slug":"rising-costs-force-small-businesses-to-increase-prices","status":"publish","type":"knowledge","link":"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-news\/rising-costs-force-small-businesses-to-increase-prices\/","title":{"rendered":"Rising costs force small businesses to increase prices"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The majority (74 per cent) of business owners are set to increase their prices in the next 12 months, according to data from our 2025 SME Insights Report. With higher running costs, a tighter tax burden, and uncertain consumer spending all contributing to the difficult decision.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Our SME Insights Report is a deep dive into the UK\u2019s small businesses. It provides an overview of business confidence, their biggest challenges, and what support they need from the government.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can download the <a href=\"https:\/\/www.simplybusiness.co.uk\/resources\/sme-insights-report\/\">full report here<\/a> for a comprehensive look at what it\u2019s like to be a small business owner in 2025.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-revealed-key-threats-to-small-businesses-nbsp\">Revealed: key threats to small businesses&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The last five years have posed a range of challenges for small business owners. From Covid-19 to the cost of living crisis \u2013 entrepreneurs have had to adapt to rapidly-changing consumer behaviour and an unstable economy.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the same time, they\u2019ve also had to adapt to an unpredictable tax environment, led by two different governments.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When we asked small businesses owners to name their single biggest challenge in 2025, they said:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\">high running costs \u2013 22 per cent\u00a0<\/li>\n\n\n\n<li class=\"wp-block-list-item\">lack of\/uncertain consumer demand \u2013 20 per cent\u00a0<\/li>\n\n\n\n<li class=\"wp-block-list-item\">unpredictable economy \u2013 16 per cent\u00a0<\/li>\n\n\n\n<li class=\"wp-block-list-item\">rising inflation \u2013 13 per cent\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">But a rise in employers\u2019 National Insurance contributions, higher material costs, and a lack of funding and investment were common challenges too. It\u2019s clear small businesses are being hit with a huge variety of obstacles to overcome \u2013 and many are out of their control.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-do-small-business-owners-feel-about-the-economy\">How do small business owners feel about the economy?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Small and medium sized enterprises make up 99 per cent of the businesses in the UK. They play a huge role in the economy, but they\u2019re also exposed to its volatility.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After a period of high inflation, low investment, and ever-changing policy \u2013 we checked in with small business owners to see how they feel about the economy:<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex has-2-columns\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-cover has-aspect-ratio\" style=\"min-height:234px;aspect-ratio:1;min-height:unset;\"><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim-0 has-background-dim\" style=\"background-color:#4632d8\"><\/span><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"300\" class=\"wp-block-cover__image-background wp-image-26949\" alt=\"\" src=\"https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/11\/Circles-01.png\" data-object-fit=\"cover\" srcset=\"https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/11\/Circles-01.png 300w, https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/11\/Circles-01.png?resize=150,150 150w, https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/11\/Circles-01.png?resize=96,96 96w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><div class=\"wp-block-cover__inner-container has-global-padding is-layout-constrained wp-block-cover-is-layout-constrained\">\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"margin-bottom:0;font-size:100px\"><strong>50%<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"margin-top:0;padding-top:0\">expect the economy to get worse in the next 12 months<\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-cover has-aspect-ratio\" style=\"min-height:234px;aspect-ratio:1;min-height:unset;\"><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim-0 has-background-dim\" style=\"background-color:#b5adef\"><\/span><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"300\" class=\"wp-block-cover__image-background wp-image-26951\" alt=\"\" src=\"https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/11\/Circles-02.png\" data-object-fit=\"cover\" srcset=\"https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/11\/Circles-02.png 300w, https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/11\/Circles-02.png?resize=150,150 150w, https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/11\/Circles-02.png?resize=96,96 96w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><div class=\"wp-block-cover__inner-container has-global-padding is-layout-constrained wp-block-cover-is-layout-constrained\">\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"margin-bottom:0;font-size:100px\"><strong>50%<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"margin-top:0;padding-top:0\">expect the economy to stay the same or improve in the next 12 months<br><\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-are-small-businesses-adapting-to-uncertainty\">How are small businesses adapting to uncertainty?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Small businesses always need to adapt, but it becomes even more crucial in a challenging economy. However, there\u2019s a concern the changes small businesses are making could harm their long-term growth.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When we asked small business owners how they were adapting to economic challenges, they said:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\">holding off on buying new equipment \u2013 42 per cent\u00a0<\/li>\n\n\n\n<li class=\"wp-block-list-item\">reducing their spend on marketing \u2013\u00a023 per cent\u00a0<\/li>\n\n\n\n<li class=\"wp-block-list-item\">holding off on expanding or hiring new employees \u2013 22 per cent\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">It&#8217;s a worrying trend that small business owners are increasingly unable to reinvest in their business. This could create a barrier to growth that will harm both the businesses themselves and the UK economy.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-group has-azure-200-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-30c80bf8 wp-block-group-is-layout-constrained\" style=\"border-radius:35px;margin-top:var(--wp--preset--spacing--90);margin-bottom:var(--wp--preset--spacing--90);padding-top:var(--wp--preset--spacing--90);padding-right:var(--wp--preset--spacing--90);padding-bottom:var(--wp--preset--spacing--90);padding-left:var(--wp--preset--spacing--90)\">\n<h2 class=\"wp-block-heading\" id=\"h-what-small-business-owners-need-from-the-government-nbsp\">What small business owners need from the government&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s clear that small businesses need more support from the government. But with such a wide range of challenges, it\u2019s difficult to understand what would help them most.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When we asked what change the government could make that would have a positive impact, business owners said:&nbsp;<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li class=\"wp-block-list-item\">Simplifying the <strong>tax process<\/strong><\/li>\n\n\n\n<li class=\"wp-block-list-item\">Reversing the employers\u2019 <strong>National Insurance contributions<\/strong> increase<\/li>\n\n\n\n<li class=\"wp-block-list-item\">Making it easier to access <strong>funding and grants<\/strong><\/li>\n\n\n\n<li class=\"wp-block-list-item\">Reducing or scrapping <strong>business rates\u00a0<\/strong><\/li>\n\n\n\n<li class=\"wp-block-list-item\">Encouraging consumers to <strong>shop locally<\/strong><\/li>\n<\/ol>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-looking-ahead-optimism-prevails-nbsp\">Looking ahead: optimism prevails?&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Despite such a challenging environment for business owners, 57 per cent are \u2018very\u2019 or \u2018somewhat\u2019 confident about their business prospects over the next 12 months. And the number of new businesses in the UK is 2.8 per cent greater than in the same period last year, according to government figures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But business owners cannot do it alone. With 30 per cent uncertain about their business prospects and a further 12 per cent pessimistic \u2013 support from the government and consumers is crucial.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;Simply Business UK CEO, Julie Fisher, summarised the findings of the SME Insights Report, and emphasised the importance of supporting small businesses:&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cSeeing so many SMEs across the UK struggling is a serious cause for concern, not just for the founders of these businesses but for the British economy and our wider communities.&nbsp;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cProviding over \u00a32.8 trillion in annual turnover, and accounting for over half of all employment in the private sector, small businesses are critical to our economic prosperity. We must do everything we can to protect, support, and celebrate their spirit and resilience.\u201d<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-more-useful-guides-for-small-business-owners\">More useful guides for small business owners<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\"><a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-tax\/best-small-business-accounting-software-uk\/\" data-type=\"knowledge\" data-id=\"1262\" >The best accounting software in 2025<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-news\/spending-review-2025-for-business\/\" data-type=\"knowledge\" data-id=\"38986\" >Spending review 2025: what business owners need to know<\/a>\u00a0<\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/self-assessment\/making-tax-digital-for-income-tax\/\" data-type=\"knowledge\" data-id=\"38240\" >Making Tax Digital for business owners<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-tax\/self-employed-tax-changes\/\" data-type=\"knowledge\" data-id=\"1514\" >Small business tax changes<\/a><\/li>\n<\/ul>\n\n\n\n<div id=\"nba-upsell-001\" class=\"wp-block-group has-azure-200-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-94e519ba wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--80);padding-right:var(--wp--preset--spacing--40);padding-bottom:var(--wp--preset--spacing--80);padding-left:var(--wp--preset--spacing--40)\">\n<h3 class=\"wp-block-heading has-text-align-center\">Ready to set up your cover?<\/h3>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">As one of the UK&#8217;s biggest <a href=\"\/business-insurance\/\" data-type=\"page\" data-id=\"5152\" >business insurance<\/a> providers, we specialise in <a href=\"\/business-insurance\/public-liability-insurance\/\">public liability insurance<\/a> and protect more trades than anybody else. Why not take a look now and build a quick, tailored quote?<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/quote.simplybusiness.co.uk\/business\">Start your quote<\/a><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>See the key takeaways from our SME Insights Report 2025. <\/p>\n","protected":false},"author":59,"featured_media":39122,"comment_status":"open","ping_status":"closed","template":"","meta":{"sb_hreflang":"","sb_hreflang_url":"","disable_breadcrumbs":false,"sb_breadcrumbs":[],"sb_reviewed_by":"","sb_review_date":"","sb_enable_content_gating":true,"footnotes":""},"categories":[110],"hidden-category":[],"coauthors":[23],"class_list":["post-39120","knowledge","type-knowledge","status-publish","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Rising costs force small businesses to increase prices - Simply Business UK<\/title>\n<meta name=\"description\" content=\"Three quarters of small businesses are set to increase prices next year, according to data from our SME Insights Report. Find out why.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-news\/rising-costs-force-small-businesses-to-increase-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rising costs force small businesses to increase prices\" \/>\n<meta property=\"og:description\" content=\"Three quarters of businesses are set to increase prices next year, according to data from our SME Insights Report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-news\/rising-costs-force-small-businesses-to-increase-prices\/\" \/>\n<meta property=\"og:site_name\" content=\"Simply Business UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/simplybusiness\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-04T08:27:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2025\/07\/SMEInsightsOpengraphImage.png\" \/>\n\t<meta property=\"og:image:width\" content=\"815\" \/>\n\t<meta property=\"og:image:height\" content=\"544\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@simplybusiness\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n\t<meta name=\"twitter:label2\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data2\" content=\"Zach Hayward-Jones\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-news\/rising-costs-force-small-businesses-to-increase-prices\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-news\/rising-costs-force-small-businesses-to-increase-prices\/\"},\"author\":{\"@type\":\"Person\",\"name\":\"Zach Hayward-Jones\",\"description\":\"Zach Hayward-Jones is a Copywriter at Simply Business, with seven years of writing experience across entertainment, insurance, and financial services. 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