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British Small Businesses See Sales Sink by 20%, New Data Shows
- Data tracker from Sage shows inflation is taking its toll
- Impact on companies that employ three in five workers in UK
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Sales at Britain’s small businesses collapsed by more than a fifth over the past year as customers cut back in the face of soaring inflation and rising interest rates, according to new research by accounting software provider Sage.
Figures drawn from data on 85,000 small- and medium-sized companies using Sage’s platform showed the sector is struggling, with revenues, profits and cash balances all falling in recent months, raising concerns about the Britain’s growth prospects.