Page 6 - BOSS Today Issue 56

BOSS Today #56 ECONOMICS

PENELOPE’S

WEB

How to weather the economic storm

In classical mythology, Penelope – waiting for her husband Odysseus to return

from the Trojan War – spends her days weaving tapestry, and her nights unpicking

it so that she can start it again the next morning.

earing in mind that such is the almost VP: The economic pressures during
Bdaily changeable nature of economic the bounce back in 2021 were
forecasts in these turbulent times, in mostly felt down the supply chain
mid-September, BOSS Today asked Vicky with shortages, delivery problems
Pryce, Chief Economic Advisor, Centre and staff shortages. Now, with
for Economics and Business Research energy costs up, businesses are
(who spoke at the recent BOSS AGM and still suffering from increases in
Members’ Day) and three key industry input costs (over 20% year on year
leaders: in recent months) and an inability
to pass it all on to consumers who
n Simon Allan-Brooks, Managing Director, are going through a serious cost
Viking UK of living crisis. Both consumer and
n Julie Hawley, Executive Director business confidence have been
of Finance, Yorkshire Purchasing declining and the resumption of
Organisation (YPO) strikes in ports and railways won’t
n Steve Haworth, CEO, EVO Group of have helped in moving goods along
Companies to their final destination.

for their thoughts on the economic SH: The impacts can be split into three
situation, both now and going forward. distinct areas:

BT: What effects have the current 1. Supply chain disruption: this has been
economic and political instability evident not only in receiving goods
had on businesses to date? from the Far East, but also closer to

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