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Distance Learning Trade News
Deflation to reduce supply costs
Plumbers and electricians could benefit from reduced supply costs as deflation sets in, according to a financial services company.
Smaller businesses providing "essential services" may see profit margins grow as the costs of supply decrease, according to Hargreaves Lansdown.
The latest Business Inflation Guide (BIG) produced by More Than Business and Warwick Business School showed that contractors are set to benefit from the biggest reduction, with declines of 4.5 per cent.
Northern England has seen the biggest fall in business costs - falling by 3.8 per cent.
Danny Cox, chartered financial planner at Hargreaves Lansdown, explained that small businesses operating in "deflation proof" sectors should be able to continue trading.
However, he warned: "The biggest problem in a deflationary environment is that people stop buying because they think something's going to be cheaper next week.
"Until prices stabilise people stop buying unless they absolutely have to."
According to the BIG, the annual rate of inflation for small businesses earlier this year was almost ten per cent.
