New figures from the Federation of Small Businesses (FSB) reveal that 12% of its members are now generating their own power, illustrating the extent many companies will go to in order to ensure their stability in the future.
Planning for the future
The FSB’s The Price of Power report suggests that energy supply is becoming an increasingly important issue for UK small businesses. According to their survey of 919 FSB members, energy security is among the top concerns of 60% of companies, and 86% think the UK relies too heavily on imports.
In light of these figures, the organisation is calling for a new carbon plan from the government. Specifically, the FSB argues that Westminster must work hard to ensure that small enterprises are supported as part of the UK’s ongoing commitment to climate obligations and energy generation. FSB National Chairman Mike Cherry comments:
“The whole system for incentivising and subsidising infrastructure lacks transparency, consistency, direction and ambition. It needs a strategic overhaul. The government should produce urgently an updated carbon plan, looking specifically at small businesses as an audience.”
It’s also suggested that UK businesses would benefit from more reliable information on the costs, benefits and viability of energy generation in both owner-occupied and rented business benefits.
Small businesses are already proving that they are keen and capable when it comes to taking control of their energy supply. As well as the 12% of SMEs who produce their own power with tools like solar panels, 58% have actively implemented changes to make their business more energy-efficient. 27% say a low-carbon economy would create more opportunities for their firm.
Controlling energy supply and costs remains a vital part of prudent financial planning. On average, electricity accounts for 16% of site costs for small and micro businesses in the UK, meaning there's scope for significant savings. What's more, energy prices remain volatile. Some predictions expect them to rise by as much as 5% in 2017. When it comes to managing your cashflow, this kind of change can mean the difference between covering your costs and slipping into debt.
Empowering SMEs to incorporate energy generation and efficiency into cashflow forecasts would make it much easier for them to make better decisions for their long-term economic stability of their company – and the UK economic and natural environments.
For more information on how Dukes Bailiffs can help your business maintain a stable cashflow, contact one of our operators today.