Green Bean Studios’ Founder Anita Frost Speaks on BBC Radio 5 Live Show Wake Up To Money
Anita Frost was invited to speak on BBC Radio 5 Live with Sean Farrington on BBC News breakfast show Wake Up To Money. The popular radio show shares news and views on business and the world of personal finance, plus the very latest from the financial markets around the globe. Previous guests have included business magnate and Tesla Inc. CEO, Elon Musk.
During the show, Anita spoke alongside Sophie Lund Yates, one of the show’s markets experts, and several other prominent guests from across the globe. Speaking prior to the Bank of England's Monetary Policy Committee announcing its latest decision on interest rates, guests discussed where the interest rate might go and how much it can do to tame inflation.
Other topics discussed included USA debt and how it is impacting the UK market, the cost of living in the UK and how it continues to affect people’s spending habits, and what ASOS reporting a loss of 90+ million in sales means for retailers in general.
Anita spoke about the challenges that the volatile global economy presents for startup businesses like Green Bean Studios. She discussed how having an acute awareness of the market’s frequent ups and downs, combined with resilience and adaptability, is key to keeping business moving forward and growing.
On the current unpredictability of the UK economy and the impact it has on small businesses, Anita told Sean Farrington:
“We’re like a hawk right now, looking at every aspect, making sure we go over it twice so we’re not missing anything, and we’re trading fairly and well.”
As a startup business, Green Bean Studios needs to carefully consider every element of the business, including the materials and resources used in production, the cost of which can change on a weekly basis. Changes like this impact every decision the business makes and demands a tight control on budgets to keep business sustainable and profitable.
Following the show, at midday on 11 May The Bank of England announced it has raised rates from 4.25% to 4.5% – their highest levels in almost 15 years. On this topic and how it impacts small businesses such as Anita’s, she commented:
“We definitely need a pause – it’s been so intense. We’ve come from a pandemic to prices rising and businesses totally affected by that. They’ve had to restructure the way that they buy, the way that they resource, the way that they innovate. The spend of customers is at the heart of every business – everyone’s completely and utterly fearbound and [businesses] can actively see it. I think a pause [in the interest rates rising] would be great. Are they going to? Probably not.”
With the ongoing uncertainty of the global economy, shows such as Wake Up To Money play a vital role in keeping individuals, businesses, and investors with their finger on the pulse. Knowledge is power and at a time when there is so much economic and societal instability impacting families across the UK and beyond, expert insights from thought leaders in the financial and business sectors is essential to help us all navigate these challenging times.
Listen to the full Wake Up To Money podcast featuring Anita Frost here:
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