A survey conducted by accountancy and services group BDO has reported that overall UK business costs dropped in February for the first time in six years, due to prices of crude oil being halved since June.
BDO partner Peter Hemington said: "Lower input prices will help entrench the recovery, as consumers gain more spending power.”
The report also shows that companies are increasing the number of hires, with 4.2% of small companies taking on staff in the last quarter.
The only thing the report found to be getting worse is that companies continue to struggle to hire people with appropriate levels of skills.
