The snow and freezing weather that hit Britain overnight is expected to cost businesses in the region of £1.2bn according to the Federation of Small Businesses (FSB), in comparison a bank holiday is thought to cost UK businesses in the region of £6bn.
It is expected that one-in-five workers will fail to get into work, with London grinding to a halt this morning as rail, bus and tube services were cancelled due to the weather.
Other areas of the country are also bound to be hit with treacherous driving conditions, mainly rural communities, where people stay at home rather than risk the journey to work.
Businesses will not only be hit with employees not making it in but also consumers will not be as active in the wintry weather. This is bad news for retailers who have experienced poor Christmas sales with many on the high street struggling to evade the fates of Woolworths and Zavvi.
The FSB believes that the cost of the disruption could rise further if the bad weather continues as businesses that are functioning try to interact via email and phone with those that have closed for the day.
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