Withstanding the increasing economic pressure, many small business owners are worried for the future of their companies considering the energy support being reduced. For small businesses with tight budgets and limited resources, this reduction can have dire consequences.
Business owners understand how both savings and spending affect their company's progress and fate over time – making it important to consider any changes carefully. As they seek solutions on ways to keep their prices low while still operating at optimum efficiency, these business owners now more than ever need access to tools, information and options that can give them an edge over the competition.
The Energy Bill Relief Scheme, which was introduced to lower energy bills for business owners during the height of the energy crisis, has now come to an end. This could result in a staggering 133% increase for those paying for energy in their business premises.
Unfortunately, this could lead to some business owners facing financial hardship as they suddenly faced with much higher energy costs overnight.
The news of the government's introduction of The Energy Discount Scheme has been met with resistance from business owners. While energy market prices are likely to increase under this scheme, such a rise would be difficult for many businesses to bear they have already had to introduce price increases this year and may not be able to raise their rates again without alienating their current customers.
This is especially worrying in times of economic uncertainty due to the energy crisis and other global issues, when businesses need the support of their customers most. Some business owners are therefore concerned about the potential implications of this scheme and its ability to help businesses in resource-intensive industries maintain their operations in the long run.