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Irish firms query energy bill Green Tax

Monday, January 27 12:16:09

Eighty three per cent of SME business owners in Ireland think that energy suppliers may be taking advantage with recent price hikes and over half question the legitimacy of 'green taxes' within their energy bill, a new survey has revealed.

The figures come from the Close Brothers Business Barometer, a quarterly survey that canvasses the opinion of business owners across the UK and Ireland on a range of key issues.

Managing Director of Close Brothers Commercial Finance in Ireland, Harry Parkinson, said: "Our findings suggest that a number of local business owners are uneasy about the latest set of energy price increases, which have come at a time when many firms continue to struggle with their cash flow."

"There has been a lot of debate around energy costs and green taxes with many sceptical about the validity of 'green taxes' and their purpose. It's understandable that business owners would like to see greater transparency around their energy bills so that they can ensure they are receiving best value for money."

The Business Barometer further revealed that restricted cash flow is still the main obstacle to company growth for as many as four in ten Irish firms.

Mr Parkinson added: "In light of these price rises, we recommend considering a balanced blend of funding to meet your needs. If you haven't thought about your business finances for a while, it may be time to consider using more than one financial product to meet your aims."

"With operational costs continuing to increase for the foreseeable future, it is sensible to look to solutions such as invoice finance. It can help to bolster day-to-day working capital, ensuring your business operations run smoothly and that appropriate finance is available to meet any growth aspirations you may have. We're working with businesses of all shapes and sizes across Ireland, offering tailored funding packages that support cash flow and help to encourage growth and a speedy recovery."