Annual Pricing Review: I always aim to set up my pricing for the year ahead in the summer months. And once fixed, I try to maintain price stability and maintain cost expectations for my clients. However, global events and financial measures are beyond my control and I must always watch those factors.
It has become clear that the massive global impact of war and the way in which it has negatively impacted an already worsening economic downturn must be reflected in price adjustments here in my services charges. That's the bad news.
The good news (for my clients) is that due to a continued and sustained weaked and weakening Sterling (£, the Pound), most of my customers will have enjoyed a nice buffer from any increases I may have been be forced to make to their specific packages (if any) over the last year. This is likely to continue.
The UK suffering began even before BREXIT and our economic outlook and experience is very bad right now. Specifically inflation is causing a cost of living crisis and is expected to worsen as Autumn and Winter approach. It's really really bad and worsening.
Brexit + war is leading to sterling struggling more than most currencies around the world this year.
This negative for us in the UK is a positive for my overseas clients. The currency markets are actually continuing to help all my Chinese Clients especially. Any increase I might make in costs due to our worsening cost of living is tempered or offset by VERY favourable currency exchange rates affecting my foreign clients.
Some clients even noted that their payments (in their local currencies) were reduced, despite any rises in prices made by me.