Thousands of businesses in the UK are struggling to pay their bills due to the drastic rise in energy prices. With the possibility of closure looming, it could mean many businesses going under.
Today’s announcement made by the prime minister stated that there is a need for immediate action to be taken to help businesses across the UK but what does that actually mean? Liz Truss has promised a £150bn UK-wide package to shield Britain from soaring energy prices but businesses will only receive support for a six-month period. Once the six months have elapsed, vulnerable industries will be targeted to help them get back on track and keep their doors open but what is apparent is that energy efficiency is more important than ever.
Unlike housing bills, commercial property energy tariffs are not capped. Meaning some business owners are seeing an increase in their bills go up more than 350%. Not only does this mean businesses would close, but also several people would lose jobs. Creating a butterfly effect, so those without jobs will struggle to pay their home bills.
Businesses are demanding help from the government to help, by cutting the VAT rates. VAT saw a drastic cut to 5% during lockdown but has since increased back to 20% now the economy is back up and running. Many small businesses feel like they are alone with the rise in energy prices and that they can’t do anything. Some even increase their business prices to compensate for the costs and fees they are having to pay.
Enerlytic is here to help your business. Our innovative cloud platform can provide you with the key energy data that you need during these challenging times and will allow you to truly understand your energy consumption so that you can make better decisions.
For more information about how Enerlytic can help your business, contact us today to book a FREE no-obligation demo.