One in four business leaders (24%) believe the Government’s energy bill relief scheme (EBRS) has removed a “serious risk” to their business, according to a poll by the Institute of Directors (IoD).
Out of nearly 500 directors, more than 200 reported energy making up more than 5% of their costs, 11% of which stated they have been able to keep their premises open for longer due to the scheme.
Furthermore, 35% stated that having the energy price cap in place over the winter has made it easier for their business to plan for the future.
Of those surveyed, 5% said they would have stopped trading altogether if the Government had not stepped in to help businesses with energy bills.
However, the vast majority of directors (73%) said that, while the price cap is helpful, it is not the deciding factor determining the future of their business.
Alex Hall-Chen, a senior policy advisor at the IoD, said:
“Our data shows that the Government’s energy bill relief scheme has been a crucial intervention, removing a serious risk to around a quarter of businesses.
“We therefore urge the government to continue the EBRS for sectors of the economy particularly vulnerable to current fluctuations in international energy markets.”
Talk to us about your energy bills.
