Small businesses warn April cost hikes could force closures

SMALL businesses have warned they are heading into an "unprecedented cost crunch" in April, with more than a third of employers planning to cut output or shut down as higher taxes and bills take effect.

- SASKIA KOOPMAN

The Federation of Small Businesses (FSB) has written to Chancellor of the Exchequer Rachel Reeves, warning that a combination of rising energy standing charges, business rate increases, higher employment costs and changes to statutory sick pay risk tipping firms over the edge.