This is how much it’ll cost to run a business in the UK by 2030

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Jun 04, 2021 by Manchester TV in Business

With the cost of running a business seemingly going up year on year, just what might these costs look like in 2025, or even 2030?

New research from CircleLoop has taken a look at historic data on some of the most common business bills to reveal how much running a business could cost in the future.

How business bills will increase

Type of Bill	Annual growth rate	2011 rate	2021 rate	2026 rate	2031 rate	Predicted % change 2021 to 2031
Corporation Tax	2.78%	26%	19%	25%	33%	73.11%
Type of Bill	Annual growth rate	2010 price (Pence per kWh)	2020 price (Pence per kWh)	2025 price (Pence per kWh)	2030 price (Pence per kWh)	Predicted % change 2021 to 2031
Gas supply	1.23%	£2.037	£2.301	£2.450	£2.600	12.99%
Electricity supply	4.50%	£8.25	£12.81	£15.96	£19.89	55.27%
Type of Bill	Annual growth rate	2010 salary	2020 salary	2025 salary	2030 salary	Predicted % change 2021 to 2031
Average Salary	1.97%	£21,212	£25,780	£28,421	£31,333	21.54%
Type of Bill	Annual growth rate	2010 Price	2020 Price	2025 Price	2030 Price	Predicted % change 2021 to 2031
MacBook	4.76%	£816	£1,299	£1,639	£2,068	59.20%

Key findings include:

Business bills overall are increasing on average 3.05% each year
The UK’s average salary is estimated to grow the least, reaching £31,333 by 2030 (a 21.54% increase)
Electricity bills are expected to see one of the biggest increases by 55.27% over the next decade, while gas bills the lowest by 12.99%
MacBooks are increasing in price by 4.76% each year

Damian Hanson, co-founder of CircleLoop comments:

“In the modern world we now operate within, it’s quite simple and cost-effective for anyone to start a new business, however, in certain areas costs continue to increase and need to be fully considered before setting out on your startup journey. In particular, recent taxation changes are worth noting, however, our ever-increasing dependency on agile business software products delivered in a Software as a Service (SaaS) model continues to allow SMEs to gain access to enterprise-grade functionality with ease.

“More and more businesses are using less traditional forms of communication, so where businesses would previously be paying out for traditional phone systems in their offices, employees can maximise productivity and work anywhere in the post COVID world through web-based applications on the devices they already own.

“There are several other areas within a business that owners and entrepreneurs are now also looking to in order to cut back on costs. These include the use of co-working spaces to provide a flexible base for those employees who might be looking for a mix of both remote working, and office working. Similarly, small businesses can look to outsource employees through freelancing and contracting platforms such as Fiverr in order to save on the costs of full-time employees.”

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