Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the effect of trends in the level of consumer spending on small businesses across the UK as the cost of living increases.

BEIS monitors a range of indicators across the economy, including consumer spending and business health. The most recent ONS data[i] indicate that most businesses, including small businesses, reported that April turnover increased or stayed the same, compared to March. When asked about expectations for turnover in June, most small businesses still expected their revenue to stay the same or increase.

Recognising the challenges facing businesses and consumers, Government measures include £15 billion to support struggling households, bringing total support to help manage the cost of living total to £37billion this year.

[i] ONS BICS Wave 57 – published 1 June 2022