Analysis Rising interest rates are causing pain for SMEs in the US and Europe

“Small businesses are counting on today’s rise in base rates to peak as the Bank of England forecasts a bigger-than-expected fall in inflation, even after the surprise we would have Uptick seen earlier in the week.

Martin McTague, National Chairman of the Federation of Small Businesses (FSB), reacted to the Bank of England’s recent interest rate hike ( Martin McTague said: “Inflation is high and small businesses are paying a huge price, and they are more exposed to rising input costs than large businesses. “The government needs to demonstrate that it is on the side of small businesses that are feeling the pinch and are under enormous margin pressure,” McTague added.