Rising Fuel Prices Restrict Small Business Growth

Rising Fuel Prices Restrict Small Business Growth

Increasing fuel and energy prices are threatening small-business growth, as 80 per cent of SMEs believe that high gas, electricity and petrol prices will restrict their expansion over the next 12 months, the Federation of Small Businesses (FSB) has warned. With petrol prices rising by 5.61p per litre between mid-May and mid-June, research from the FSB revealed that 40 per cent of small businesses believe the high prices will force them to delay plans to recruit more staff. “Small businesses are reaching breaking point and if something is not done about rising fuel prices very quickly then we will have a major economic crisis on our hands,” said FSB chairman John Wright. “The UK’s 4.5 million-strong small-business community simply cannot cope with the cost of fuel ri... »