Amin Khan, owner of sustainable clothing retailer, PrimaBerry, says he has cut back on memberships and subscriptions to pay for rising energy bills, as he works from home.
‘After reading countless articles with tips and tricks about how to save on bills, I started to panic, which led me to write down all my memberships, subscriptions, direct debits and any other bills and see what could I cancel or downgrade.
‘After all the reductions, I am now saving around £200 monthly, which will definitely help me to pay for any gas and electricity increase as I work from home.’
Amin Khan, owner of sustainable clothing retailer, PrimaBerry
He added: ‘I forecasted to sell more than what I am selling at the moment but due the circumstances it is understandable why so many small businesses are struggling. Everything is going up in price but I am trying to not raise my own prices up as much as I can.’
Natalie Fletcher, owner of Manchester-based micro manufacturer, Mancmade, says she has no disposable income due to rising costs.
Natalie Fletcher of Mancmade
‘2021 was a challenge financially but 2022 is taking things to a whole new level in terms of soaring energy, food and fuel costs.
‘I also provide a mobile clothing alterations and delivery service to my customers, and the cost of fuel has wiped me out.
‘I currently don’t have any disposable income, as it all seems to be going on the fuel that is used when delivering to customers.
‘No way are this Government doing enough about ‘levelling up’ as they need to be. In fact, they have done nothing to stop the income inequalities that are seemingly set in stone.’
Fanny Snaith, a Cheltenham-based certified money coach, says she will have to increase her income significantly – by 15 per cent or more – to absorb price hikes.
She said: ‘As a landlord of a house of multiple occupancy, the utility bills are included in the rent.
‘It is not possible to simply raise the rent for many different reasons. That means that we need to be able to absorb the huge energy bill rises, plus the other hikes, too. So that is a hit to income.
‘I sense a real danger area here, for landlords and tenants alike.’