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Retail workers face money challenges at alarming rate

31 May 2023

A report published by financial institution Claro Money’s wellbeing division on the effects of money worries for retail workers found that 73% of retail workers feel negatively about their... Read more…

Federation of Independent Retailers says more needed to be done to support smaller businesses in Wales

24 May 2023

Whilst it has welcomed some elements of the Welsh Retail Action plan, the Federation of Independent Retailers (the Fed) said more is needed to be done to support smaller businesses.
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Nearly half of customer service staff consider quitting over growing customer abuse

22 May 2023

More than two-fifths (44%) of customer service staff are considering leaving their roles due to increasing levels of cost-of-living fuelled abuse from customers.
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Friendliest high-street businesses include hairdressers and coffee shops, reports new study

22 May 2023

More than half of Britons (55%) say they have received helpful life advice from a local small business owner, new research reports.
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Mixed picture emerging about Coronation effect on retail

9 May 2023

A mixed picture is emerging about the effect of the Coronation weekend across the UK's retail sector.
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Nominations open for British Business Awards 2023

9 May 2023

Nominations have opened for the 2023 British Business Awards.
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Independent retailers look to loyalty schemes to keep up with supermarkets

9 May 2023

Independent retailers are racing to keep up with rivals and retain customers as the battle for loyalty intensifies among supermarkets.
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Government urged to reinstate Tax Free shopping with UK Retailers missing out as sales surge across Europe

9 May 2023

The European retail sector has enjoyed its best month for international spending on Tax Free goods since the end of the pandemic after sales surged by 40% month on month in March 2023, taking... Read more…

Consumers feel protective of independent shops and want to support them for their ‘social good’

27 Apr 2023

New research has found that consumers feel protective of independent shops and want to support them for their ‘social good’.
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Worldwide retailers seeking new ways to attract shoppers as spending slows

26 Apr 2023

Europe's cost of living crisis has benefited discount retailers, but mid-market names are being squeezed as shoppers watch their spending, executives and analysts at an industry conference said... Read more…

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£14 for a latte could become a reality, warn coffee shop owners

Posted on in Business News, Cycles News

The owners of a coffee shop in Kent have wanted that they may need to increase the price of coffees to £14 each to meet their rising energy costs.

Chris and Anna Vidler, who own an independent restaurant called The Lane in Deal, Kent, expect their gas and electric bills to increase to more than five times than they are currently paying. And to keep up with rising energy prices, they have calculated that their £2.90 latte would have to rise to £14.30 a cup.

As reported in the Daily Mirror, Chris said: "We are already down, despite a reasonably busy summer. We're noticing empty seats because people are staying home when they don't have as much money to spend."

When shop’s electricity contract runs out at the end of this year, new quotes take the price from £15,000 per year to around £69,000. At the end of February their gas contract will also need to be renewed - with the new quote set to take them from around £400 per month to around £2,400.

Chris added that while the Prime Minister has introduced a cap on energy bills for households, as a business owner he is left confused about what to do.

The Prime Minister last week announced an unprecedented intervention in the energy market to cap household bills at £2,500, promising an “equivalent guarantee” for businesses for the next six months. But little detail was given by the government on how it intended to cap costs for the business sector, where pricing is more complex. It is thought that this further detail could be delayed by a period of national mourning following the death of the Queen.

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