Is your business struggling with rising energy bills?

Around 93,000 small companies now say they might be forced to close down, downsize their business or radically restructure, according to the FSB (Federation of Small Businesses).

Many of them had taken advantage of the Government’s Energy Support Scheme when prices rose in response to the war in Ukraine.

They took out fixed term contracts that enabled them to better plan their cash flow.

However, the scheme was ended after six months and many small businesses are now stuck with contracts at a higher rate than they need to be as prices have reduced somewhat since then.

The FSB estimates that more than one in 10 small companies signed up to a fixed-price energy deal during peak prices.

It is calling on the Government and the energy companies to allow businesses to revise these contracts to better reflect the reduced energy prices without which many otherwise profitable SMEs could be forced out of business through no fault of their own.

Is your business in this position?

We have a free cash management tool for you to download here.

Would you like to talk through your options with a restructuring adviser?

If so just call or message us through LinkedIn to set up an informal telephone conversation.

We are here to help you.

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