Businesses in Stamford could be seeing less profit with people spending less this summer
It's the last bank holiday of the summer and one of the last chances for tourism and spending to boom
A business group covering Stamford says businesses might not see as much profit as usual at the end of this summer.
People are having to be a lot more careful about what they're spending
Hospitality, leisure and retail is worth £3 billion to the counties economy.
This bank holiday is one of the last chances for tourism and spending to peak over the summer.
So far businesses are reporting that even though there are still a lot of people in Lincolnshire towns, cities and coastal areas, they are not spending as much as in previous years.
It's believed it's due to a mix of increasing prices due to inflation and the current cost of living crisis.
Some businesses are worried this could be the final straw after a number of challenges over the last few years, including Covid and minimum wage increases.
Days out are more expensive, ice creams are more expensive and coffees are more expensive
Katrina Pierce, from the Lincolnshire Federation of Small Businesses, said:
"Summertime and Christmastime are peak seasons for businesses here."
"At the moment businesses are reporting that average consumer spend is down."
"People are still going for their breaks and having days out but not spending as much."
"It's not surprising with the ongoing cost of living crisis; the consumer price index has ticked up nearly 4% over the last year, so it's unsurprising that people are having to be a lot more careful about what they're spending."
"Days out are more expensive, ice creams are more expensive and coffees are more expensive."
"All of that is because it's so much more for businesses to source and supply, and that knocks on to all of our individual pockets."