Rocketing costs and less cash in people’s pockets are putting small businesses under pressure.
The Glasgow Times, in our Spotlight series, has been speaking to independent small business owners battling to cope in the growing cost-of-living and energy crisis.
Across the city traders in a variety of customer-facing businesses are telling how the costs they face can't be passed on to customers and there appears to be no end in sight to the economic crisis.
Stuart Wilson has owned Wilson’s Catch of the Day in Finnieston for seven years.
Serving fish, meat, game and veg, the business is built on providing quality food but remaining affordable.
But all the costs that need to be met before a coin is taken over the counter in return are going up.
Increasing energy costs are a huge problem for a business that needs round-the-clock power.
Stuart said: “I have walk-in chills, refrigerated cabinets and freezers that need to be on 24-hours a day.
“I’m paying three times now what I used to pay for energy. It is a lot of money to handle.”
It is not just gas and electricity that he needs to run his business.
He added: “Fuel costs have doubled. It used to cost £75 to fill one of my vans. It’s now £140.
“I have to go to the coast to pick up stock. I buy it direct because I want to provide the best produce.
“That’s extra money I’m spending and these are costs that are not being passed on to my customers.”
He is aware that as well as businesses like his, suppliers and customers are also feeling it.
Stuart recognised: “It’s a nightmare for everyone. It is ridiculous. There is no light at the end of the tunnel.”
Firms like Wilson’s are caught in the middle of those increasing costs for everyone.
What he buys is going up but there is a limit to what he can charge before he loses customers
For Stuart, the cost of buying fish has gone up.
He said: “Halibut used to be between £10 to £14 a kilo. It is now £22 a kilo.
“A box of good quality haddock that used to be £60 can now cost £120.”
And the cost of living has left his customers regulating their spending more.
He said: “People have changed their habits.
“During the pandemic, people were shopping local more and cooking at home more.
“Now people have gone back to the supermarket, and I can understand that.
“It is hard to compete with the big supermarkets.
“I have regular customers who come in for quality produce."
He has noticed people are spending less, adding: “People are still buying fresh produce but maybe not as much of the other goods on the shelves.”
So, what would help independent small businesses like Wilson’s?
“Help with the fuel and electricity” he said would be the biggest factor.
He said he heard of a restaurant that had their monthly bill go from £1800 to £7500.
Stuart is working every waking hour most days, because, he said: “You have to make the business work.”
Like many others, Stuart is hoping the Christmas period will help provide some much-needed income.
He added: “I’m hoping for a decent December. I plan by keeping costs as tight as I can. I have one staff member that allows me to do everything else because I need someone in the shop while I am getting stock.”
While businesses, just like households across the country, are eagerly awaiting the chancellor’s autumn statement next week, he is aware of the scale of the challenge facing everyone.
He summed it up: “Something drastic needs to be done.”
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