Visit England estimates the UK economy will receive a boost of almost £2 billion, thanks to the four-day bank holiday.
A group representing small businesses in Norfolk tells us the Easter weekend could be “make or break” for many of our county’s small businesses.
Visit England estimates that the UK economy will receive a boost of almost £2 billion (from the four-day bank holiday) and 6.5 million are thought to have traveled during this time.
“For many, its costs remain very high”
Candy Richard is from the Eastern Federation of Small Businesses:
“It’s time to ring the cash registers. Things have been slow for many small businesses because households are more cautious about spending. So this is the first time businesses are expecting an increase in customers this year.” .
“We know inflation is falling. But for many their costs are still very high. I was talking to a restaurant owner last week and he said his energy costs are double what they were a couple of years ago.
“They have less money to spend”
“The cost of things like steak has doubled in the last year. Also, from April 1, many businesses will see their staff bills increase (due to the rise in the national wage). Small businesses are optimistic, but also We are going through difficult times.”
“For many, this Easter weekend will be a defining moment. They are nervous and cautious about the road ahead. Interest rates remain high, which means mortgages and rents continue to rise, which means that I have less money to spend.