Weather extremes in 2018 have had a serious impact on the UK’s small businesses. The worst hit sector was the agriculture sector, where almost half now say unpredictable weather is holding their business back. The proportion of business listing this as a real concern has risen by nine per cent in the past two years.
Concern over adverse and extreme weather has doubled within a year amongst all UK small businesses, according to research from Hitachi Capital. For businesses in seasonal sectors such as agriculture and hospitality it is now the number one concern for businesses, according to the research.
For the agricultural sector, almost half (46 per cent) said unpredictable weather was holding back their business – a rise from 37 per cent two years ago and 34 per cent last quarter.
Gavin Wraith-Carter, managing director at Hitachi Capital Business Finance, said: “Unlike larger enterprises that may have a dedicated team to address particular external threats to the business, small businesses must cope with the environment within which they operate.
“Through our years of experience, we know that small businesses have the agility to adapt in difficult circumstances – often faster and easier than their larger counterparts. They have the ability to weather storms, sometimes literally.”