A report published by the Federation of Small Businesses (FSB) has suggested that four in ten small firms are having to increase their prices as a direct result of higher wages.
It's a big day today for the UK - and HMRC is already planning in the event of a no deal Brexit.
29% of SMEs expect the UK leaving the European Union to have a negative effect on their business.
UK families are already feeling the financial impact of the decision to leave Europe
The Institute of Chartered Accountants in England and Wales (ICAEW) has suggested that confidence amongst businesses has 'slumped' as a result of ongoing Brexit uncertainty.