Energy costs crippling small businesses
Posted on in Business News , Cycles News , Creative News, Outdoor News
A new survey has revealed that more than half of UK micro-businesses (56 per cent) feel the rising cost of energy is threatening their future.
The independent survey found that that the majority of micro-businesses say they are currently penalised by energy providers with almost half (45 per cent) asked to make large upfront payments. A third (31 per cent) claim they are on a high tariff because they are seen as a credit risk, while one in five (21 per cent) were turned down by energy suppliers.
Almost half (42 per cent) feel they get an unfair deal from energy suppliers and more than two thirds (71 per cent) say they have been caught out by unexpected T&Cs such as crippling rates, inflexible payment terms, high deposits and extended contracts.
According to the Department for Business, Energy & Industrial Strategy, micro-businesses now account for an estimated 5.2 million UK private sector businesses making up approximately 94 per cent of the UK private business sector. The survey showed that on average small businesses fuel costs had increased by £215 in the last year.
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