Inflation to Hit the UK Hardest, With Half of Business Leaders Expecting Inflation to Get Worse in the Next 12 Months - Taulia
SAN FRANCISCO--(BUSINESS WIRE)--Dec 19, 2022--
UK businesses expect to be hit the hardest by inflation, according to new research from Taulia. Nearly half (48%) of UK businesses expect inflation to get worse in the next 12 months, higher than businesses in Germany (42%), Singapore (35%) and the US (21%).
The findings come at a time where nearly nine in 10 (87%) businesses are concerned about the impact inflation will have on their business.
More than two fifths (42%) of UK businesses predict that the current inflationary environment will continue for more than two years. An additional 44% of UK-based businesses expect today’s inflationary environment to last between one and two years.
Thomas Mehlkopf, General Manager and Head of Working Capital Management CoE for Taulia at SAP: “Alarm bells have started to go off for a significant number of UK businesses in the face of spiraling inflation as there is no clear end in sight. As a result, many are very clearly expressing their concerns about how long they can withstand the inflationary environment.
“Looking ahead, businesses will need to look at ways to help ease the growing financial pressures that come with rising inflation and this is where working capital management solutions have a vital role to play. These solutions work to unlock cash trapped in the supply chain and can help businesses not only survive but thrive during these turbulent times.”
Notes to editors:
Research conducted by Opinium among 550 Finance decision makers in the UK, USA, Germany, and Singapore at businesses of USD750million + annual revenue between 10-24 October 2022.
Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables, and inventory. A network of more than 2 million businesses use Taulia’s platform to determine when they want to pay and be paid. Taulia enables its customers to execute their working capital strategies, support their suppliers with early payment, and contribute to building sustainable supply chains. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca, and Nissan. In March 2022, Taulia became part of SAP. Taulia operates as an independent company with its own brand in the SAP Group.
For more information, please visit www.taulia.com.
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KEYWORD: EUROPE UNITED STATES UNITED KINGDOM NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: SOFTWARE FINANCE PROFESSIONAL SERVICES TECHNOLOGY SUPPLY CHAIN MANAGEMENT FINTECH RETAIL BUSINESS
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