Bristol businesses struggling the most to recruit the right talent
Addition, the outsourced finance solution for SMEs and start-ups, has published a new national report revealing the cities most impacted by economic issues over the last 12 months.
Leicester-based businesses have been most impacted, with 40% stating revenue has decreased over the last year. Manchester was second with 35%, and London was sixth – with 26% of businesses reporting a loss in revenue.
The survey also highlighted which cities are struggling most to recruit, demonstrating that skill shortages and economic fluctuations are impacting massively on the job market across the UK.
Bristol-based businesses were most impacted by the ongoing issues, with 39% of all businesses struggling to recruit the right talent. One in four (25%) of firms in London are finding it hard to recruit, while Newcastle is the least impacted – with only 13% of businesses with concerns about recruiting.
The table below outlines how the cities ranked in terms of economic impact and struggling to recruit the right talent.
|Revenues Impacted Most||Most Recruitment Struggles|
The extensive survey of businesses gives detailed insights into how economic factors such as the pandemic, Brexit and other issues such as skill shortages are impacting firms across different cities throughout the UK.
Addition Founder and CEO, Graham Davies, commented, “At Addition, we believe it is critical to understand how businesses are being impacted in the short-term, so we can support them through any future economic challenges.
“Our national reports give detailed insights into how business owners are coping with every aspect of running their business and help us to understand future trends or potential concerns. Understanding your financials is vital to overcome these challenges and drive business growth.”