A survey of medium-sized companies conducted by Accountancy and Business Advisory firm BDO has found supply chain disruption to be the top concern heading into the winter months.
BDO’s survey, which saw the leaders of 500 medium-sized companies participate, found that just under a quarter are worried about supply chain issues thwarting their ability to hit annual revenue targets.
Potential concerns included the possibility of suppliers going out of business, as well as there being a lack of stock. Moreover, 57% of the survey respondents fear that increasing costs could make materials or labour unaffordable. This was true of both UK and overseas markets.
Around one third of those surveyed are also concerned about being able to fulfil their contracts. Commenting on the results of the survey, Richard Austin, a partner at BDO, said: “These are significant challenges in the run-up to winter – traditionally the busiest period of the year and a “golden quarter” for some of the sectors at the heart of the UK economy.”
Austin added: “As the engine of the UK economy, mid-sized businesses need the right tools to help them, not only weather the months ahead, but also to deliver their plans for growth. These businesses want to see targeted actions and policies in addition to fiscal measures. As we all navigate through an increasingly challenging economic period, the role these businesses will play in the overall recovery of the UK economy should not be undervalued.”
In light of rising energy costs in recent years sparked by global conflicts, a majority of those who participated in the survey also said they had plans to invest in energy efficiency.
When it comes to UK Government support, almost half of those surveyed called for help to deal with labour shortages.
