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News - 15 April 2013

Firms count damage done by March cold weather

Both retailers and small businesses say the exceptionally cold weather in March damaged business activity.

The British Retail Consortium (BRC) said the number of people visiting shops last month was 5.2% lower than a year ago.

Meanwhile, the Federation of Small Businesses (FSB) said the March freeze cost the UK's small businesses £174m.

It said more than half of small firms admitted that cold weather damaged demand and closed businesses.

The FSB reported that the £174m it estimated had been collectively lost by small businesses broke down to an average loss of £1,580.

Helen Dickinson, British Retail Consortium Director General, said: "The prolonged cold was the main culprit for deterring shoppers, especially compared against the far milder March of 2012.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
"It's not all bad news, the March retail sales figures were fairly strong, even after you take into account the data for the Easter weekend which fell earlier this year than in 2012. This suggests that, when people did venture out, they bought things."

If you need any help and advice on SME or the retail industry strategy, contact Lavinia Newman or Peter Ham now to discuss how ABDS can help bring their experience to these matters.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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