Small businesses are losing customers as prices climb Santander research shows that 80% of smaller firms are struggling to compete with the lower prices offered by larger firms, meaning 72% are losing customers. While 73% believe the current economic climate is making it harder than ever to compete, 69% said they have no option but to increase their prices. While many small businesses recognise the difficulty in matching their larger competitors in terms of price, 67% said they can offer customers a more personalised service and 42% believe they have more flexibility to reach niche markets. Four in 10 think the quality of their products is better than that of large companies. The poll also saw 76% say some of their customer base has been understanding or supportive following their price increases.