Study finds one in four small businesses plan to close if energy bill support ends

A study carried out by the Federation of Small Businesses (FSB) has found that one in four small firms plan to close, restructure or downsize if support with their energy bills ends next April.

28 Nov 2022

A study carried out by the Federation of Small Businesses (FSB) has found that one in four small firms plan to close, restructure or downsize if support with their energy bills ends next April.

The business group suggested that small businesses' survival will 'depend on continued government support through the Energy Bill Relief Scheme (EBRS) beyond March 2023', at which time the EBRS is currently set to end. According to the survey, almost half of all firms polled expect to raise prices in response to the energy bill crisis if support ends.

Over a third have already put growth plans on hold as a result of soaring energy costs, the FSB found. Additionally, 63% of businesses stated that their energy costs have risen considerably when compared to this time last year.

Martin McTague, National Chair of the FSB, said: 'Our research indicates that small firms are being held back from investment and are at the brink of collapse because of sky-rocketing energy costs. It'd be a real shame and great loss to our economy if those who managed to get through the pandemic and this tough winter with government support end up closing their businesses because relief ends too sharply in April.'

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2024 Blue Spire Limited (Brighton). All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Blue Spire Limited (Brighton) are Accountants in Brighton.

Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com


Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK