Quarter of UK firms have had to cut expenses budgets

With rising government costs, a quarter of UK businesses have had to restrict their expense budgets.

A further 52% have said they’re planning to implement expense cuts.

The findings, compiled by AccountsIQ and Expenseln, found that these rising tax costs are pushing businesses to reassess staff numbers as well as operational efficiencies.

Commenting on the findings, Darren Cran, CEO of AccountsIQ, said, “These figures demonstrate how finance teams are being asked to navigate an increasingly complex environment, with rising costs and ever-changing regulations always on the horizon.

“That said, this doesn’t have to be all doom and gloom. As well as these challenges, we are also in an age where technology and business intelligence is as exciting and cutting edge as it ever has been.

“The ambitious businesses we work with every day are the backbone of the economy, and there is now a real opportunity for these organisations, and in particular their finance teams, to leverage these tools, prioritising efficiency and automation to stay ahead.”

To find out more about contracting, please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.