HomeUncategorized50% of NW business owners financially supporting workers amid crisis

50% of NW business owners financially supporting workers amid crisis

Rathbones, an investment management firm, conducted a study reporting that 50% of business owners in the area provided regular financial support to their employees, while another 28% paid once-in-a-lifetime for their employees to help them grow. expense.

This happens although many businesses, especially SMEs, are also facing significant increases in costs, supply chain issues and a reduction in the Chemical Support Program. energy bills this month.

More broadly, Rathbones research shows higher earners across the UK (those with investable assets of more than £250,000) have also taken steps to support their loved ones. .

48% of these in the northwest have helped their children and grandchildren in the past six months with regular financial assistance with bills, with another 18% having provided a one-time cash payment.

Many also regularly support family members such as aunts, uncles, cousins ​​(38%) and close friends (24%).

Richard Dawson, regional director for Rathbones, said: “With the limited support available to SMEs currently available, many could see their costs increase significantly in the coming months.

“Small and medium-sized businesses make up 99.9% of the UK business population and play an important role as an employer across the UK and to our economy. ”

There is support for businesses in the county, said Suzanne Caldwell, executive director at the Cumbria Chamber of Commerce: “We’ve certainly received really positive feedback from local employers for the package. an employee benefit we just rolled out that essentially allows them to give their employees a free pay raise outside of their Room membership through vouchers at supermarket stores , etc., allowing for significant savings.

“We also make sure to provide information to employers to help them align employees with existing benefits.”


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