Main obstacles to running a business among SMEs in the UK 2023

Published by D. Clark, Sep 30, 2024

As of 2023, 36 percent of SMEs in the United Kingdom reported that increasing costs were one of the main obstacles to running their business, with a further 32 percent reporting the current economic climate as a main concern.

Main obstacles in the next 12 months for running a business among small and medium enterprises (SMEs) in the United Kingdom in 2023

CharacteristicPercentage of SMEs
Increasing costs 36%
The current economic climate 32%
Political uncertainty/future govt policy 24%
Legislation, regulation and red tape 23%
Cash flow/issues with late payment 15%
Supply chain issues 12%
The ongoing impact of Covid 12%
Changes to value of sterling 11%
Recruiting/retaining staff 11%
Access to external finance 8%
Showing entries 1 to 10 (10 entries in total)
Created with Highcharts 7.2.2Percentage of SMEs36%36%32%32%24%24%23%23%15%15%12%12%12%12%11%11%11%11%8%8%Increasing costsThe current economic climatePolitical uncertainty/future govt policyLegislation, regulation and red tapeCash flow/issues with late paymentSupply chain issuesThe ongoing impact of CovidChanges to value of sterlingRecruiting/retaining staffAccess to external finance
0%2.5%5%7.5%10%12.5%15%17.5%20%22.5%25%27.5%30%32.5%35%37.5%40%

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Release date

March 2024

Region

United Kingdom

Survey time period

2023

Number of respondents

4,085 respondents

Special properties

SMEs

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