Small businesses call for help amid soaring bills
Small businesses are now looking to next week’s expected mini budget for help with soaring bills despite the slight easing in inflation.
Some firms said on Wednesday that their energy bills had more than doubled in the past three months alone.
Sara Hall, founder of The Silk Purse Guild, said the energy bill crisis was “piercing the very heart of UK small businesses”.
She said: “I work with countless small independent makers and many are struggling to buy their raw materials and fire up their kilns. My small handmade marketplace has stalled, mid-launch, as no-one in the creative community has the courage to take chances or the motivation to start something new.
“The tone in the community remains grim as the cost-of-living crisis deepens, with no clear relief in sight. It is a constant battle to keep spirits up, and my mental health has absolutely been impacted, as the news seems to worsen by the day.”
Ollie Hayes, a former professional rugby player, personal trainer and founder of So Fit Bath, added: “The cost to keep the gym warm during the winter months is already sending a cold shiver down my spine. Energy bills are going through the roof and any small business with a physical premises will be feeling the squeeze right now.
“The energy price cap announced last week was a start but you get the feeling something more dramatic will be needed by Christmas. Let’s hope that something radical is announced in next week’s mini budget.”
Real estate adviser Altus Group said businesses were urging the Chancellor to use the emergency mini budget to scrap a rise in the business rates tax next April that is pegged to September’s headline rate of inflation.
If August’s 9.9% CPI inflation rate is repeated in September, non-domestic buildings in England such as shops, pubs, restaurants, factories and offices face a £2.66 billion business rates hike during the 2023/24 financial year, it was estimated.
