A STAGGERING 80 per cent of boroughwide businesses and those elsewhere in Greater Manchester have seen notable increases in their Employers Liability Compulsory Insurance (ELCI) over the last 12 months.
That's according to results from the latest survey from Chamber Business Connections.
Of those businesses responding to the questionnaire that have reported increases in ELCI costs, almost half experienced rises of between 20 per cent and 50 per cent with 15 per cent seeing their premiums more than double during the past year.
The effects of these increases were stark yet predictable, with 86 per cent of businesses stating that ELCI costs had reduced their profitability. The Chamber says that 29 per cent of respondents stated that ELCI costs had led to them to cut investment levels.
Chamber Business Connections, the trading name of North Manchester Chamber of Commerce, represents the interests of more than 2,500 businesses across Bury, Bolton, Oldham and Rochdale.
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