Cost of running business 'still a concern for many firms' - 06/01/2011
Business energy clients are generally feeling more optimistic about 2011 but still hold concerns about the cost of running a firm, the Forum of Private Business stated.
A spokesman for the organisation commented: "The general consensus of our members was that costs are going up across the board, whether that be for utilities, or for fuel prices or raw materials for manufacturers.
"We think that is one thing the government need to keep a very close eye on, because inflationary pressures could mean that it could [impact] the economy," he noted.
His remarks come in light of research from the Federation of Small Businesses showing that the VAT rise will be felt negatively by a majority of small companies, many of which will use cheap energy to power their businesses.
Some 71 per cent of those questioned said the tax hike, which came into effect on January 4th, will be unbeneficial to their firm, while half (52 per cent) believe the move will increase prices.
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