Challenging times | Eight in ten small business owners face a 'cost of working' crisis

Eight in ten small business owners say they face a “cost of working” crisis, according to new research by TalkTalk Business.

The research by the business communications solutions provider found that, amidst rising costs and inflation, small businesses are also being held back by poor customer service from suppliers. Two-thirds (67%) of small businesses work with a supplier that has blamed poor customer service on the pandemic – despite Covid restrictions officially ending six months ago.

Diverting attention

On average, SMEs spend a whopping 16 hours a month on the phone to supplier customer service teams – time which they believe diverts much-needed attention away from their core business. Small business owners told TalkTalk’s researchers that improvements in customer service would enable them to focus on tackling the cost-of-working crisis. Energy, telecoms and water are the areas in which SMEs feel their suppliers’ customer service most lets them down.

Richard Jeffery, National Director of The Growth Company, said: “In these challenging times, it is critical business leaders are able to devote their full time and attention to the core issues surrounding their organisation. This report shows the impact of poor customer service, and the amount of time SMEs spend dealing with it, time which would be better spent focused on their business.”