Vodafone launches “essential” SME cost-of-living support

A new study by Vodafone suggests owners of small businesses around the country are bracing themselves for a turbulent and uncertain year ahead with more than a quarter (28 per cent) of SMEs admitting they won’t be hiring any new staff over the next 12 months due to the current cost of living crisis.

The research commissioned by Vodafone looking into the impact of the cost-of-living crisis on UK small businesses has found the rising cost of gas, electricity and fuel for business use is the greatest challenge for half of small business owners (53 per cent).

This was then followed by staff pay rise demands (47 per cent), spiralling transport and distribution costs (30 per cent) and more expensive raw materials (28 per cent).

Nearly all, (98 per cent), small businesses said good connectivity was crucial to their business yet more than a third (35 per cent) admitted they have downgraded, cancelled or considered cutting their broadband service to save money.

In response, Vodafone will from today offer free business broadband for a year to help small businesses mitigate rising business costs and stay connected to customers.

Available from October 19 to November 24, this new support package offers Vodafone’s business grade broadband free for 12-months on a 24-month plan and is available to all small businesses as well as existing Vodafone Business customers who are eligible to upgrade.

Nick Gliddon, director of business at Vodafone, commented: “With growing uncertainty in the economy coupled with spiralling business costs, Vodafone will continue to support small businesses who are the key drivers of employment, income, innovation and economic growth.

“This new offer of 12-months free broadband means one less bill to contend with for small businesses, who we hope can reinvest the money saved where it’s needed most.”

Lizzie Carter, founder of Only Curls, added: “One thing that has helped my business financially is keeping my team working remotely, by avoiding additional rent or business rates, I have been able to invest in staff, stock and marketing to help my business grow.”

“The team all enjoy working from home as it allows them more time with family, more flexibility on where they choose to live, and means no costs for commuting. Good Wi-Fi is essential for us, from all our virtual meetings, to marketing on our social channels, to banking, to running the website. Our e-commerce business simply would not exist without Wi-Fi.”

By Matthew Neville – Correspondent, Bdaily

• Add me on LinkedIn and Twitter to keep up to date
• And follow Bdaily on Facebook, Twitter and LinkedIn
• Submit press releases to editor@bdaily.co.uk for consideration.