Latest data has shown that the UK’s SMEs are more concerned about the rising cost of energy and its impact on their business – than they are about Brexit.
A Utilita Energy report found that more than three quarters (77%) of the 1,000 small businesses surveyed, saw the cost of their energy supply rise by at least 100GBP per year – with one in ten (9%) paying out an additional 500GBP or more.
The third annual Powering the UK High Street Report, which looks into the treatment of small businesses by energy companies, also found more than a third of micro-businesses (39%) have been forced to make staff redundant to reduce the cost of running their business – with half (48%) reducing staff hours to pay for their energy.
Utilita CEO, Bill Bullen, said, “We commissioned our first annual Powering the High Street report in 2017 as we knew many micro-businesses found it hard and costly to engage with suppliers to find a better deal on energy.
“We’ve learned 68% of businesses surveyed do believe their provider gives them a fair deal. Let’s hope this is a sign of things to come.”
Bill added, “But there is a lot of work to do – it’s still concerning to see so many businesses worried about the cost of their energy rising and payment pressures and how this impacts their workforce. Further still, almost a third (29%) of businesses are tackling inflexible payment terms and a quarter (24%) are asked to pay crippling rates. This just isn’t fair.”
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