Ageras Launches Small-Biz Inflation Tracker, Finds Inflation Rates Outpacing Prices Charged by Europe’s Smallest Businesses
Ageras, the leading fintech company utilizing its banking and accounting software to power more than one million small businesses across Europe and the United States, announced today that it launched its proprietary Inflation Tracker, revealing how the rise in the Consumer Price Index dramatically outpaced the rise in prices billed by Europe’s small businesses across seven Western European economies in the most recent quarter.
By comparing how much tens of thousands of freelancers, microbusinesses, and other SMEs raised the prices for the same set of goods via Ageras’ accounting software between July through September versus the rise in each country’s official Consumer Price Index, Ageras data provides insight into how the smallest business owners across some of Europe’s largest economies are faring relative to overall inflation rates.
“We launched our index because we wanted to objectively study and highlight the unique challenges facing the economy's unsung heroes — sole proprietors and other small businesses,” said Ageras Co-founder Martin Hegelund. “Our data in this inaugural report show that inflation left small business owners worse off in every country we studied. We hope these data are a wake-up call for policymakers to focus more on inflation’s outsized impact on small businesses.”
Ageras’ index focused on seven European economies--Austria, Belgium, Denmark, France, Germany, Switzerland, and the United Kingdom. It chose these countries because Ageras’ software suite is most heavily used there, and its dataset is strongest. Ageras’ future index reports will expand the countries it studies.
In Europe’s largest economies, the CPI rose between 2% to 3% faster than price hikes by small businesses. In France and Germany, there was a 2.6% gap between official CPI data and SMEs studied by Ageras. In the United Kingdom, inflation’s impact was slightly weaker. Prices there rose 2.2% faster than SMEs raised their prices.
However, inflation’s largest impact was across some of Western Europe’s small countries in the most recent quarter.
Among the seven countries that Ageras’ index measured, inflation’s impact hit SMEs in Austria hardest. Austria’s CPI rose 5.3% faster than small businesses raised their prices last quarter. The gap was second highest in Belgium at 4.4%, followed by Denmark at 4.2%. Small business owners were best off in Switzerland, where the CPI rose 0.8% faster than SMEs raised the price of their goods.
Here are the full country reports (alphabetically ordered) using Ageras’ proprietary dataset:
Ageras data show small business owners in Austria raised their prices by 4.5% in Q3 of 2022 compared to the third quarter of 2021. That lagged behind the 9.8% rise in Austria’s CPI during the same time period.
Ageras data show small business owners in Belgium raised their prices by 5.9% in the third quarter compared to the last year. That was dwarfed by the 10.3% rise in Belgium’s CPI during the same period.
Ageras data show small business owners in Denmark raised their prices by 5% in Q3. That rate trailed the 9.2% rise in Denmark’s latest CPI.
Ageras data show small business owners in France raised their prices by 3.2% in Q3. That was lower than the 5.8% rise in France’s Q3 CPI.
Ageras data show small business owners in Germany raised their prices by 5.9% in Q3 2022 compared to last year. That rate was below the 8.5% rise in Germany’s Q3 CPI.
Ageras data show small business owners in Switzerland raised their prices by 2.6% in Q3. During that same time period, Switzerland’s CPI rose at a higher rate, 3.4%.
Ageras data show small business owners in the United Kingdom raised their prices by 6.5% in Q3 2022. That rate was less than the 8.7% rise in the UK’s CPI last quarter.
Ageras is the ultimate fintech platform for small business owners. Its one-stop platform integrates its solutions into a single “financial cockpit” for invoicing, accounting, payroll, and banking, enabling small business owners and entrepreneurs to focus on what they do best: running their businesses. Ageras began as the online marketplace Ageras.com (matching SMEs with accountants) and has expanded into a 350-person company offering a complete ecosystem of tools and services for SMEs. Today, Ageras offers cloud-based accounting software through its products Zervant, Billy, and Tellow, banking through Kontist, and payroll software through Salary. In late 2021, the group launched an embedded fintech service that directly provides financing options to its customers through its software. Ageras’ solutions have been used by more than one million small businesses across Europe and the U.S. The company was founded in 2012 by serial entrepreneurs Rico Andersen and Martin Hegelund, who have 25 years of combined experience building internet companies. For more information, please visit www.ageras.group.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Dentalis Animal Health appoints Advisory Board4.2.2023 15:09:00 CET | Press release
Dentalis Animal Health, a company specializing in Oral Health care for companion animals, has announced the appointment of its Advisory Board. Michael Kelly Michael Kelly is an Animal Health Pharmaceutical Industry veteran with broad international business experience. A graduate of Harvard Business School and Cornell University, Michael was hired by Ciba-Geigy to begin his post graduate career in Switzerland. Eventually ending up in the Novartis Animal Health US Division (following the Ciba-Sandoz merger) he rose to CFO and VP of North America. In 2009 Kelly joined Piedmont Animal Health (PAH), a drug development company, and served various roles including CFO, COO and President. During his tenure at PAH the organization received more FDA Companion Animal Drug approvals than any other Company in the Industry. Dr Stephanie Livermore Dr. Stephanie Livermore has been practicing companion animal medicine and surgery since her graduation from the University of Guelph in 2008. Dr. Livermore
Autel Brings MaxiCharger DC Compact to eCarExpo and Signs Partnership Agreement with Leading Charging Operator Eways4.2.2023 09:00:00 CET | Press release
Autel, a leading provider of automotive electronics and diagnostic equipment and tools, exhibited for the first time at eCarExpo, the largest electric vehicles fair in the Nordic countries, on February 3-5, 2023, in Friends Arena, Stockholm. Autel brought its portfolio of products featuring the recently launched electric vehicle charger the MaxiCharger DC Compact. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230204005001/en/ Autel signs partnership agreement with leading charging operator Eways (Photo: Business Wire) As Autel's newly launched DC charger for EVs, the MaxiCharger DC Compact is not only sleek and compact with a 21.5-inch LCD touchscreen, but also powerful enough to provide up to 47kW of power for the European version. Either placed on a pedestal, or set on wheels for ultimate portability, the MaxiCharger DC Compact is perfect for charging operators wanting to provide their customers with a quick charge option
U.S. FDA Approves Takeda’s TAKHZYRO ® (lanadelumab-flyo) to Prevent Hereditary Angioedema (HAE) Attacks in Children 2 Years of Age and Older4.2.2023 00:48:00 CET | Press release
Takeda (TSE:4502/NYSE:TAK) today announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental Biologics License Application (sBLA) for the expanded use of TAKHZYRO® (lanadelumab-flyo) for prophylaxis to prevent attacks of hereditary angioedema (HAE) in pediatric patients 2 to <12 years of age.1 Prior to today’s approval, the only approved routine prophylaxis treatment options for children 6 to <12 years of age required dosing every three to four days,and children with HAE 2 to <6 years of age had no approved prophylaxis treatment, making TAKHZYRO the first prophylaxis treatment for this age group.1-5 The recommended dose is 150 mg/1 mL solution in a single-dose prefilled syringe every four weeks in patients 2 to <6 years of age and every two weeks in patients 6 to <12 years of age.1 HAE attacks can involve serious and debilitating swelling in the abdomen, face, feet, genitals, hands and throat.5,7 Potentially fatal upper airway angioedema has been reported i
SLB Completes Acquisition of Gyrodata Incorporated3.2.2023 22:05:00 CET | Press release
SLB (NYSE: SLB) today announced it has completed the acquisition of Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. The transaction will incorporate Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business, bringing customers innovative drilling solutions. This combination will improve wellbore quality and reduce drilling risk to unlock even the most remote and complex reservoirs. Integrating three-axis solid state gyro measurements with the latest SLB technological innovations will help ensure tighter trajectory control, reduce data acquisition time and improve the decision-making process—resulting in greater overall drilling efficiency. “I’m excited for this historic moment that will bring innovative solutions to the SLB Well Construction division and our industry,” said Jesus Lamas, president, Well Construction, SLB. “The technology-driven acquisition of Gyrodata is aligned with SL
Gallagher Re Joins ABIR and EY as 2023 Bermuda Risk Summit Headline Sponsors3.2.2023 16:17:00 CET | Press release
The Bermuda Business Development Agency (BDA) is pleased to announce that Gallagher Re has joined the Association of Bermuda Insurers and Reinsurers (ABIR) and EY as headline sponsors of the second annual Bermuda Risk Summit. Adam Schwebach, Executive Vice President, Gallagher Re, said, “Gallagher Re is proud to support the second Bermuda Risk Summit, an annual event that showcases the breadth and versatility of Bermuda’s globally significant risk market. This event serves as a timely opportunity to connect with industry leaders ahead of midyear renewals and we applaud the BDA for their efforts in making the Bermuda Risk Summit a success.” David Hart, BDA CEO, said, “We are just so excited to welcome Gallagher Re as our third and final headline sponsor, along with ABIR and EY. The theme of the 2023 Bermuda Risk Summit, being held from March 6-8, 2023, at the Hamilton Princess & Beach Club is ‘Innovation, Sustainability and Collaboration. We anticipate an even stronger attendance level
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom