It was an ill wind that drove the snow storms across the UK adding more woe to an already suffering economy. Despite being predicted snow when it hit London & the South East on Sunday evening and Monday 2nd February no one could have predicted the chaos that followed. From all London buses being completely stopped to most tube & train lines either delayed or cancelled.
Whilst it is fun for many, having a day at home or venturing out to sledge or build a snowman – many SMES will suffer a back-lash from the fact that their workforce are absent. It is estimated that about 20% of the UK work force didn’t make it to work on Monday 2nd February. The cost to businesses across the UK due to lack of production has been estimated by the Federation of Small Business to be somewhere in the region of £1.2 bn, that figure will rise when you add in the passing trade that would also have been lost. The closure of the tubes and buses in London would cost the economy £48 million in itself. Coming on top of the recession the snow is bad news for UK business.
Whilst it is fun for many, having a day at home or venturing out to sledge or build a snowman – many SMES will suffer a back-lash from the fact that their workforce are absent. It is estimated that about 20% of the UK work force didn’t make it to work on Monday 2nd February. The cost to businesses across the UK due to lack of production has been estimated by the Federation of Small Business to be somewhere in the region of £1.2 bn, that figure will rise when you add in the passing trade that would also have been lost. The closure of the tubes and buses in London would cost the economy £48 million in itself. Coming on top of the recession the snow is bad news for UK business.
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