By Max Clarke
The Japanese crisis and Middle East uncertainty are already having an impact on Britain’s small businesses, with energy prices jumping 7% on average, hitting SMEs seeking a new business energy contract.
As well as prices sneaking upwards, suppliers are also only guaranteeing their prices for a day or two reflecting the level of uncertainty currently being experienced.
“Everyone’s eyes have been on household energy prices,” says James Constant, Director of energy price comparers, uSwitchforbusiness.com. “But Britain’s small businesses are already feeling the impact of the current crisis. We have already seen moves across the UK business energy market this week as suppliers rush to pull prices. They are being replaced with prices that are significantly higher and furthermore there is no obvious end to the uncertainty as world events continue to evolve.
“More importantly, prices are moving very quickly. We are literally seeing a price for a day or two before it is being pulled and replaced by a higher one — this shows the level of uncertainty out there.
“The fact is that British business owners face a major risk of an increase in energy costs. Clearly this will have an impact. I would urge owners not to get caught out - locking in now can at least minimise potential future exposure.”