The cost of living crisis is affecting many businesses nationally. With inflation being at a 40 year high it is the reason for the substantial rises in living costs.
Energy costs, housing and household activities are at the forefront of the rises which factor in electricity and gas, and have contributed to over half of Annual CPIH inflation in July.
Pay rises are also growing at the fastest pace for 20 years, but are still off the mark when keeping up with price rises.
The average pay has risen by 6.4% between September and November compared with the same period in 2021.
Many public and private sectors have been forced to go on strike over working conditions.
This has led to disruption of train services, hospital care and schools or universities.
‘Little Pickle cafe’ is a local Business in Bournemouth.
They have opened up about how they have dealt with the struggle around the staff wages and cost of living living crisis: “There’s not a magic way of making money apart from putting the prices up”
They further explained how it has been a challenge as they have tried to help their staff by giving meals to them to reduce food costs, while also giving them tips when possible.
Boscombe is known for having many independent businesses, but due to the rise of cost living some might be forced to shut down in the near future.
In some cases, it has already led to closure for some shops around the town.
The owner of Little pickle cafe explained how it’s been a struggle over the last few months as they were affected by the initial loss during covid.
“We’re still trying to get back the money we lost during covid which is massive really to be able to pack those debts”
Listen to the full Interview here: