We Asked 100 Hairdressing Business Owners: What Keeps You Awake At Night? And our survey said…
We asked 100 business owners…
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| THE COST OF DOING BUSINESS![thol survery](https://creativeheadmag.com/wp-content/webp-express/webp-images/uploads/2024/05/thol-survery.png.webp)
We know business is tough. But which part is the toughest? Creative HEAD asked 100 hairdressing business owners to share what’s been most troublesome for them over the past 12 months and whether those challenges have affected their future plans. And the results are in…
What is most problematic to you when it comes to the cost of running your business?
9% High energy costs
30% Rising employment costs
44% Business taxes (eg, VAT, Corporation Tax)
1% Property costs
16% Rising production costs
Which of these costs should government prioritise to help your business?
18% Energy costs
61% Business taxes
21% Employment taxes
Which of these tax reforms would most help your business?
76% Reduction in VAT
5% Reduction if Corporation Tax
19% Simplifying the tax system
Did you raise your prices in the last 12 months?
89% Yes
11% No
If yes, do you plan to raise them again in the coming months?
56% Yes
44% No
If no, do you plan to raise to raise your prices in the coming months?
54% Yes
46% No
The National Minimum Wage has risen this year by 14.8% to £8.60 for those aged 18 to 20, while the National Living Wage rose by 9.8% to £11.44 and now includes those aged 21 or over. Does this mean you will:
Hire fewer apprentices
69% Yes
31% No
Stop hiring older apprentices
63% Yes
37% No
Do you think your profit will increase this year?
32% Yes
68% No
If yes, will it go up by more than 10%?
42% Yes
58% No
If no, do you think you will break even?
58% Yes
6% No
36% I think I will make a loss this year
Do you feel optimistic about your business in 2024?
65% Yes
35% No