Quote:
Originally Posted by lancsdave
As we sell clothing it's a double whammy for us. Our suppliers bring out their new catalogues in January and with it the price changes. The price of cotton has risen by 50% in the past year and we stood several smaller price rises through the last 6 months, but we can't hold our prices any longer.
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I feel for you both Dave, it is going to be hard on small businesses again, we have had 1 price increase in 7 years, unfortunately the last one was only 2 years ago because of the fuel rises, small businesses (like yours and mine) are often family concerns, so if you lose business and ultimately cease to trade, it affects a lot of family too, it is estimated that you lose up to 10% of your custom when you increase prices, and that this is offset by the increased earnings, in reality it doesnt quite add up like that, we could quite easily end up in a position of you making the missus redundant, and me deciding which son to make redundant! How appealing is that?
