March snow costs small businesses £174m

MARCH’S cold snap cost the UK’s small businesses around £174m, a new study has claimed.

The Federation of Small Businesses (FSB) said more than half (55%) of UK small firms have been impacted financially by the prolonged bad weather. On average, it said, each business lost £1,580.

The FSB said the research showed that around six in 10 small businesses were impacted by the cold snap and that loss of demand (30%) and closures (26%) were the common impacts. Of those businesses which closed or temporarily stopped trading, an average of 2.2 days was lost. Additionally, 27% of firms had staff absent for at least one day.

Last month’s bad weather rounded off a miserable 12 months for 20% of small businesses, who said they had also been badly affected by last year’s flooding.  

Ian O’Donnell, chairman of Warwickshire & Coventry FSB, said: “We may finally have turned a corner into spring, but it’s been a long haul, following the coldest March in 100 years. While a few businesses have managed to take advantage of the weather many have found it difficult to manage. Not only have they had to cope with a lack of demand for products, but many have had to close.

“Our fear is that this prolonged cold spell will mean people are travelling by car to supermarkets or out of town shopping centres rather than utilising local shops. We need people to Keep Trade Local and support local businesses that may be struggling as a result of the weather.”