Tube strike nightmare will continue to harm SMEs » SMEInsider

Tube strike nightmare will continue to harm SMEs

Travel chaos is once again set to wreak havoc within the nation’s capital this week as rail unions gear up for a double tube strike. We take a look at the financial impact the tube strikes are having on the country’s small businesses.

Tube staff who are members of RMT, Tssa and Unite unions are striking twice this week over pay and the incoming night tube service.

The first 24 hour strike is set to take place on August 25th from 6.30pm, with the second tube strike commencing on Thursday 27th August at 6.30pm.

So how are the tube strikes affecting small businesses in the UK?

In February 2014, when a similar tube strike caused misery for businesses and commuters alike, the Federation of Small Businesses (FSB) predicted that the strikes were costing SMEs an average of £1,297 each. In total, the strikes cost London small businesses £600m over the two days, due to lost working hours, profit and productivity.

John Allan, national chairman for the Federation of Small Businesses, predicts that small businesses will once again be severely affected by the strikes.

‘‘This week’s planned strike action, on top of the previous disruptions, will harm small business as well as the ordinary Londoners they serve and employ.’’

‘‘It will also hit London’s international reputation – affecting tourism in peak season, undermining inward investment and adding long term economic damage to the short term disruption.’’

Although, small businesses are proving their resilience by doing more remotely and allowing staff to work at home, the strike action will still cost time and money they can ill afford.”