A new survey reveals that the energy crisis is pushing many businesses to the brink, with more than a quarter of bosses considering closing their doors within the next year due to rising energy costs.
The survey, which polled over 300 business owners and senior executives, also highlights a significant push toward renewable energy. Over half of the respondents said they have considered installing solar panels to combat soaring bills.
The research, conducted by Censuswide for the energy services company eEnergy, found that energy efficiency is a major concern. A staggering 94% of businesses admitted they waste more than a fifth of their energy annually.
As businesses brace for even higher prices this autumn and winter, they are calling on the government for help. Key findings show that:
- A quarter of businesses believe that better energy efficiency measures are the best long-term solution.
- Nearly a third are asking the government to launch a support scheme to assist the sector.
The hospitality and leisure sectors are particularly focused on sustainability, with almost three-quarters of businesses in these industries planning to achieve net-zero emissions. This drive is fueled by both the energy crisis and growing environmental awareness.
According to Harvey Sinclair, CEO of eEnergy, current government grant schemes are often slow and ineffective. “Government grants to finance energy saving solutions only have a 5-10% conversion rate,” he said. “For most, it takes 6-12 months to get a decision, causing further delays and burning more cash—and carbon.”
Sinclair believes the solution is to make energy-saving solutions as easy as a subscription service, without any upfront costs. This approach could help more businesses invest in things like on-site generation, with 10% of small and medium-sized enterprises already planning to do so by 2023.
