Prices up ... profit might be too!
It’s time to crunch the numbers! You see whilst we hate being negative (we are normally very chirpy chappies) the truth is it’s all a bit pants out there and you MUST be aware. This is not the time to bury head in sand but dig out the calculator and really assess your trading plans over the next few months.
Because whilst UK Mother’s Day was a bumper one with fabulous prices and good margins (assuming you charged the normal rate and didn’t overstuff!), as of Sunday 6th April National Insurance rates go up, the starting point at which you pay goes down dramatically and so the cost of employing anyone will rocket. Add in the changes to rates relief, never mind all the other cost rises and it is not a pretty picture for ANY business.
Over in the USA the newly announced tariff structure has not only played havoc with the stock markets but will immediately see retailers pay more for everything. And whilst the US tariffs may not directly impact on the UK as much as some countries, the impact on the exchange rate does affect flower supplies.
There may be benefits. For example, some products may get diverted/kept in the UK (possibly cheaper salmon and whiskey!!) but jesting aside we cannot stress enough how important it is for EVERY business, however you operate, to look at the numbers and check they make sense and are viable.
We are in choppy water territory … even the Bank of England has said economic and global trade uncertainty has intensified … and if that means putting your prices up then sobeit, up they must go AND WITHOUT FEAR.
Because strangely you could find that whilst you might lose SOME customers you will keep … and quite possibly attract new … higher spending ones and actually make just as much money – if not more – for doing less. Before you poo-poo us think about it seriously and you have any questions just ask … we are here and happy to help ... just email us at
