Electricity4Business, a supplier of cheap electricity specifically for small and medium sized businesses, has commissioned independent research that analyses the financial impact of rising energy bills for UK companies.
The study shows that 18 per cent of Swindon small companies of less than 20 employees are operating in fuel poverty (i.e. spending more than 10 per cent of annual turnover on energy bills).
A further 24 per cent of local companies are following closely behind with between five and 10 per cent of turnover going on energy costs and these businesses are set to imminently break through the fuel poverty threshold as a result of rising wholesale energy prices.
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The independent research, which was conducted on behalf of Electricity4Business and questioned more than 1,000 small businesses across the UK, also showed that spiralling energy bills have now become the biggest cost for Swindon small companies ahead of staff wages and recruitment costs, premises / rent, equipment and insurance.
The wholesale energy price, which has increased by 22 per cent since January 2008, is driving this significant increasing in bills and more pressure than ever before is being put on a business' bottom line.
Jonathan Elliot from B2B comparison website MakeItCheaper, said: "According to Energywatch, one in six households are living in fuel poverty but here we are facing a situation where actually one in five small businesses, with the potential for many more, are forced into a similar situation.
"However, businesses are not helping themselves and a lack of understanding about contractual obligations and not enough shopping around for cheaper quotes when contracts come up for renewal is costing these companies dear."
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