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One in four SMEs fear closure in next year

Small firms around the UK continue to measure the impact of the energy price crisis on their businesses, with many planning to close or downsize over the next year

According to a Federation of Small Businesses (FSB) survey around a quarter of small firms (24%) intend to close, downsize, or radically change their business model in the next year.

Small businesses are also concerned about what type of energy support will be available after the current Energy Bill Relief Scheme (EBRS) ends on 1 April 2023.

More than four in 10 small firms (44%) are considering raising prices to cope with soaring bills when the current EBRS is due to end, and a third (30%) expect to cancel or scale down planned investments.

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