REGIONAL SNAPSHOT

It'll be a surprise to no one that the Thames Valley is facing the same challenges as the rest of the country. The conflict in Ukraine coupled with the cost-of-living crisis, have added to the already volatile environment created by ongoing supply chain issues and record levels of inflation. It appears that a combination of investing in cost reduction and price increases, are how the region’s businesses plan to respond, but many are also considering absorbing additional costs.

BDO RESEARCH HIGHLIGHTS

Our latest survey has highlighted that the region’s businesses are facing multiple threats to growth over the next six months, with supply chain issues (42%), the conflict in Ukraine (35%), rising energy costs (29%), inflation (29%) and the overall cost of living (29%), all being cited as concerns.

Over half (52%) plan to invest in energy efficiency, and over a third (35%) are switching to electric vehicles, to combat rising energy costs. Approximately a third (32%) are seeking new investments whilst 52% are evenly split across either raising the price of goods, versus absorbing these costs and leaving prices unchanged.

But the focus is not just on customers as over half of businesses (58%) are providing staff one-off bonuses to help employees manage inflation, and 45% are allowing more time to be spent working from home, to help staff avoid travel costs.

Discover more by reading the latest Thames Valley insights below, or you can speak to our local experts from our Reading office here.