Over 110,000 UK small businesses at risk of bankruptcy due to lack of cash reserves

The report by Dojo reveals the alarming reality that approximately 110,940 UK SMEs are in danger of going bankrupt due to their absence of cash reserves. This signifies a critical issue affecting a significant portion of the business sector.

30% of small businesses identified rising costs as their biggest challenge, with 36% responding by increasing their prices. Furthermore, only 2% of businesses surveyed had a cash reserve that could sustain them for over a year, raising concerns about long-term financial stability.

Read at Business Matters