The heavy snowfall experienced across much of Britain could cost the UK economy around £1bn, as around 20% of the country's workforce has been unable to make it into their job today.

The Federation of Small Businesses (FSB) has stated that the £1bn projection is a cautious estimate, and the actual cost is likely to be higher.

"There is also the knock-on effect of passing trade going down as people won't be buying their sandwiches for lunch or picking up a coffee or newspaper," said Stephen Alambritis from the FSB.

The south-east of England has experienced the heaviest snowfall in almost two decades, resulting in the stopping of all buses, heavy disruptions to train services and the closure of London based airports.

Small business owners are being urged to be flexible with their workforce, and have been advised that allowing staff to work from home may be the best option to keep their firms running until the heavy weather has subsided.