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The number of small and medium-sized (SME) food suppliers experiencing financial distress has more than doubled in 12 months, according to Begbies Traynor’s Red Flag Alert report for Q1 2015.
The research, which monitors the financial health of UK companies, found that supermarkets’ turnaround strategies, generally involving slashing prices and delaying payments, is piling pressure on the smaller businesses that supply them. Begbies Traynor warned that SME food suppliers are “being flattened by this new savage landscape in the UK retail food industry”.
“[M]ass price reductions have severe consequences for less established food retailers and suppliers, particularly SME’s, who now seem to be locked in a David and Goliath-style battle; although this time it appears David can’t win,” said partner and retail expert at Begbies Traynor Julie Palmer.
Last-minute order cancellations, overzealous cosmetic specifications and the rise of discounters such as Aldi and Lidl, which import much of their stock, may see struggling UK suppliers squeezed even further, Palmer warned.
“The introduction of the Prompt Payment Code and the powers given to the groceries code adjudicator to fine supermarkets in breach of the Grocery Supply Code of Practice have only had a minimal impact, and these latest Red Flag figures indicate that they may simply be too little too late for many in the SME supply chain.”
Bleak short- and medium-term growth prospects mean that smaller UK food suppliers must urgently look to cut costs wherever possible. Energy bills remain a significant expense and, as other issues have been prioritised, many businesses are needlessly paying too much.
SwitchMyBusiness.com offers a straightforward solution, cutting bills by up to 70%, with exclusive supplier rates. Thousands of businesses have already saved an average of £747 per switched meter with a call that takes less than five minutes.
For an impartial expert option on which energy supplier is best for your business, fill in the form at the top right of this page or call 0800 411 8830
"Very easy. Bea Luseni very efficient & knowledgeable."This review was posted by Alan Duffy on the 31st of March 2017
Super helpful and easy to work with
"Recommend this company in a heartbeat - Nicole Borneuf was super easy to talk to, was not pushy in the slightest, very helpful and replied with all my questions very professionally and did all she could to help. I had to deal with a few companies to sort my business energy out, all but Nicole were too pushy for my liking and I refused to follow through with them. Thank Nicole - you are a credit to your company, thank you for making the stressful energy change so easy."This review was posted by Mia Drew on the 29th of March 2017
An Extremely Competent Company
"Switch my business has not only helped my SME secure a good energy deal for the second year running but Jessica swiftly found a alternative supplier for me when I was let down on the day of switching by the new contractual provider I had chosen some 4 months previously. Being suddenly out of contract and without provider is everyone's energy nightmare. Greatest thanks."This review was posted by S McMillan on the 29th of March 2017
Helpful, friendly and we saved lots of money!
"Jessica Purnell was helpful and friendly, she made the whole process easy and simple AND we saved lots of money thanks Jess"This review was posted by Melanie Baker on the 23rd of March 2017
Quick & Easy
"Kabibi was very helpful and the whole process was very efficient. The one small reservation I had was that I was phoned up by Kabibi almost immediately having received my online quote - which wasn't enough time for me to finish reading the quotes! Fortunately she was able to assist me in a greater savings on both Gas & Electricity, and so as long as the switchover is seamless I will remain very happy with the service."This review was posted by Amanda Brown on the 21st of March 2017