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Bristol hit with biggest recruitment difficulties

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40% of businesses report decrease in revenue

 A report published by Addition, the outsourced finance solution for SMEs and start-ups, has revealed the cities that were most impacted by economic issues such as Brexit and the pandemic over the last 12 months.

With 40% of businesses reporting a decrease in revenue over the last year, Leicester-based businesses have been most impacted. Manchester came in at second with 35%, and London was sixth with more than a quarter (26%) of businesses reporting a loss in revenue.

Cities have also struggled to recruit employees, demonstrating that skill shortages and economic fluctuations are impacting massively the job market across the UK.

In Bristol 39% of businesses are struggling to recruit the right talent. One in four (25%) of firms in London are finding it hard to recruit, and Newcastle is the least impacted, with a mere 13% of businesses with concerns about recruiting.

The table below outlines how the cities ranked in terms of economic impact and struggling to recruit the right talent.

 

Revenues Impacted Most Most Recruitment Struggles
1 Leicester Bristol
2 Manchester Glasgow
3 Edinburgh Leicester
4 Bristol Southampton
5 Leeds London
6 London Birmingham
7 Belfast Edinburgh
8 Cardiff Manchester
9 Newcastle Cardiff
10 Glasgow Leeds
11 Southampton Belfast
12 Liverpool Liverpool
13 Birmingham Newcastle

 

Addition Founder and CEO, Graham Davies, commented: “We believe it is critical to understand how businesses are being impacted in the short-term. Our national reports give detailed insights into how business owners are coping with every aspect of running their business and help us to understand future trends or potential concerns.”

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