The Rising Cost of Doing Business
Date Posted: 25 Aug, 2022
We’re all now familiar with the cost of living crisis – how households are struggling to keep up with bills and afford the rapidly rising cost of food, fuel and other essentials.
But there’s another crisis which is dramatically hitting businesses, and that’s the ‘cost of doing business’ crisis. Firms across the country are being confronted by rapidly rising costs of vital raw materials, fuel, wages and, of course, energy.
Battered businesses now face a stark choice – whether to pass on the increases to their customers, or to try and absorb these new expenses to keep prices down.
In order to cope with these dramatic cost increases, firms need to get a grip on their expenditure. Installing a smart meter is a positive step in taking control of business outgoings. Once installed, energy readings will be sent directly to the supplier, bringing an end to estimated bills.
Firms with 10 employees or less could be eligible for a smart meter. To find out more please click here. You can also contact your energy supplier or broker.