Originally written by Partner Content on Small Business
Energy expenditure is the second largest cost after tax owing for microbusinesses that small business owners still estimate.
This is despite 56 per cent of microbusiness owners agreeing that having a better understanding of their energy use would give them greater control over business expenditure.
Smart Energy GB, the pan-utility company campaign to encourage adoption of smart meters, surveyed the owners of 1,000 microbusinesses (firms with less than 10 employees) to reveal the devastating financial effects of the COVID-19 pandemic.
Three quarters of those polled were anxious about how they will keep their business afloat in the coming weeks and months. The biggest concerns for struggling microbusiness owners were a lack of customers, cashflow issues – a third now check their finances daily compared to just one in five before the pandemic – and that consumer confidence will not return quickly enough.
Michelle Ovens, founder of Small Business Britain, said: “COVID-19 has been hugely challenging for microbusinesses across Great Britain. As lockdown eases and firms get back to business, many are weighing up their financial situation and focusing on how to recover and move on. Now is therefore a good time to evaluate your business expenditure and