83% of SME business owners believe that energy suppliers may be taking advantage with recent price increases and over half question the legitimacy of ‘green taxes’ within their energy bill, a new survey has revealed.
These figures come from the Close Brothers Business Barometer, a quarterly survey that canvasses the opinion of business owners across the UK on a range of key issues.
David Thomson, CEO of Close Brothers Invoice Finance commented: “Our findings suggest that a number of business owners are uneasy about the latest set of energy price increases, which have come at a time when many firms continue to struggle with their cash flow.
“There has been much debate around energy costs, with many sceptical about the validity of ‘green taxes’ and their purpose. With these policies adding approximately 15 – 21% to the energy bill of the average medium sized UK business*, companies have a right to scrutinise their value.
“It’s understandable that business owners would like to see greater transparency around their energy bills so that they can ensure they are receiving best value for money.”
The Business Barometer further revealed that restricted cash flow is still the main obstacle to company growth for one in five firms.
Mr Thomson continued: “In light of these price rises, we recommend considering a balanced blend of funding to meet your needs. If you haven’t thought about your business finances for a while, it may be time to consider using more than one financial product to meet your aims.
“With operational costs continuing to increase for the foreseeable future, it is sensible to look to solutions such as invoice finance. It can help to bolster day-to-day working capital, ensuring your business operations run smoothly and that appropriate finance is available to meet any growth aspirations you may have.
“We’re working with businesses of all shapes and sizes across the UK, offering tailored funding packages that support cash flow and help to encourage growth and a speedy recovery.”
* Department for Energy and Climate Change, 2013
