“Small businesses and startups are even more vulnerable to weather risks,” write the authors of a fresh study published in the Journal of Business Research, which notes the 70 per cent figure quoted above persists because many companies purchase their supplies weeks and months in advance. The ability to predict variations in weather that far ahead is beyond the capacity of most entrepreneurs. Cash flow is consequently impacted. In an era of abnormal weather, it can be impossible to control the effects of a phenomenon affecting 70 per cent of businesses worldwide. And impacted a lot. According to their study, which comprised 5000 British retailers across more than a dozen sectors, atypical weather has a majorly negative impact on sales. When analysing an unusually cold spring and an oddly hot autumn, they found sales of footwear declined by almost 10 per cent. For the sale of alcoholic drinks, the fall was as bad as 29 per cent. “Given retail margins in this sector, this level of sales loss and shortage in cash inflows is an important disruption, likely to drive any retailer into financial distress,” conclude the professors, Jean-Louis Bertrand and Miia Parnaudeau. They reached those conclusions via the design… Read full this story
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