With global conflicts continuing to drive volatility in energy markets, almost a million UK high street small businesses have accessed a support programme to help manage rising energy costs.
The Powering the High Street initiative, a partnership between EDF and Enterprise Nation, shared guidance on improving energy efficiency, reducing carbon emissions,
The popularity of the scheme shows the impact that rising energy prices, partly driven by the Middle East war, are having on small companies.
According to research from the British Chambers of Commerce (BCC) 73% of small businesses says energy costs are their primary concern, with average bills increasing by 424% compared 2021.
Separate research currently being conducted by BCC shows that four out of 10 businesses are finding it difficult to pay their energy bills, compared to a quarter in January.
The government this week announced that 10,000 manufacturers in energy intensive industries will see their bills cut in 2027 but business groups have said more support for more businesses is urgently needed.
Claire Nutt, director of small business at EDF UK, said:
“While we cannot control international energy prices, we can help small businesses become more energy efficient.”
Aaron Asadi, CEO of Enterprise Nation, added:
“The fact that just under one million small businesses across the UK stepped forward to explore sustainable energy solutions as part of this initiative shows how important effective energy management has become in terms of cost control.
“Many small businesses face the dual challenge of unpredictable wholesale price fluctuations and heightened operational costs as part of the rising ‘costs stack.’”