Coffee shop owner in Sheffield 'dreading' the upcoming autumn budget
It's set to be delivered on Wednesday by the Chancellor
Smaller businesses in South Yorkshire & North Derbyshire fear the upcoming autumn budget could lead to many independent stores 'closing their doors for good'.
It's expected that the new Labour government will increase employer national insurance by at least 1 per cent on Wednesday in an effort to stabilise the economy.
Frazer Habershon - who runs a coffee shop in Sheffield city centre - thinks it could be the 'final nail in the coffin' for some:
"I unfortunately see a lot more companies liquidating.
"I'm not hopeful - we're looking at more expense to employ people, so it's not looking promising.
"We're already stretched as it is, and we're just about keeping our heads above water.
"The next couple of months will be a test, and I imagine next year will be too. Let's hope things get better.
"A lot of businesses will have to either reduce their staffing or put their prices up - that's if they're able to survive this period of uncertainty, but some unfortunately won't be able to keep going.
"We've had a long time of uncertainty, and sadly we've got used to it.
"I've felt like this since the Covid-19 pandemic."
The autumn budget will be announced by Chancellor Rachel Reeves tomorrow.