Should I raise my prices?
Updated 9 June·5 min read
Yes, if…
- ✓Your costs have risen and prices haven't in 12+ months
- ✓You're regularly fully booked or sold out
- ✓Your prices sit below comparable local businesses
No, if…
- ✕You've just raised them in the last few months
- ✕You're losing customers on value, not price
- ✕A rise would break a contract you can't yet renegotiate
The reasoning
Most owners fear a price rise far more than customers resent one. A modest, well-communicated increase is usually absorbed - especially if your costs have visibly risen too.
Price on value and capacity, not guilt. If you're fully booked, the market is telling you you're too cheap.
Announce once, in plain language, with a little notice. Don't apologise, and don't drip-feed lots of small rises - it unsettles people more than one clear change.
What’s new on this question
9 Jun 2026Supplier cost index ticks up again for hospitality and trades
28 May 2026Minimum wage rise confirmed - a common trigger to reprice
12 May 2026Energy-cap change feeds into small-premises costs
What you can do this week
- ✓Work out your true cost per sale today vs a year ago
- ✓Set a fair new price and a date to start it
- ✓Tell customers once, plainly, with a week's notice
Related decisions
Luca Bonura
Founder & Editor
Self-taught marketer who started selling online at 17 and went on to freelance for brands across Europe before founding Adlarion. He writes The Small Business Digest in plain English - the news he wishes he'd had when he was starting out.
More from Luca →