5. What does the drop in inflation actually mean to you as a business owner

The KBB Unstoppable Business Owner Podcast

In this episode of the KBB Unstoppable Business Owner podcast, host Kevin D Banister explores the topic of inflation and its effects on consumer behavior and business operations.
Beginning with a brief overview of inflation's rise to 11.1% in October 2022 and its subsequent decrease to 3.2%, he discusses the broader implications of these changes. He points out how inflation impacts buyer confidence, leading to reduced spending, and how businesses are affected in turn.
Kevin explains the role of the Bank of England in attempting to manage inflation through interest rate adjustments, noting significant increases from a historic low of 0.1% to 5.25%.
Furthermore, Kevin discusses the adjustment in consumer spending behaviour as inflation rates start to decrease, suggesting business owners re-engage with leads who may now be more open to spending.
The episode aims to provide listeners with insights into managing their businesses amidst fluctuating economic conditions, emphasising the importance of understanding consumer behaviour in response to inflation and interest rates.
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