Survey: 50% of businesses deal with rise in energy costs
The second Ulster Bank Business Confidence Survey has found that in the last year almost half of businesses have introduced measures to tackle the growing burden of energy costs.
The research found three out of five firms have introduced measures to tackle waste costs, but just over one-in-five are also now using renewable sources of energy.
These figures represent a significant increase in the number of companies who have taken proactive steps to reduce energy and waste costs since the first survey was carried out in April 2007.
The second wave of research revealed that, in the 48% of businesses who have taken steps to reduce energy costs, the two most popular saving moves are the introduction of lower energy consuming fittings and technology and energy awareness campaigns.
When it comes to tackling waste costs, the main tactic by 62% of businesses has been the introduction of a waste and recycling campaign.
The survey also recorded a corresponding drop in concern among small businesses over the impact energy and waste costs are having on their companies.
A total of 17% of businesses are very worried, 16% are somewhat worried, 31% are a little worried and only 30% are not worried.
Declan Fitzgerald, head of corporate banking, property and invoice finance, says the survey findings show energy and waste costs are top of the agenda for small and medium companies.
“There is obviously a real awareness among businesses out there of the impact energy and waste costs can have on their bottom line.”
He said responses indicate that a lot of positive action has been taken across the country to reduce energy and waste costs and, as a result of this, businesses are better prepared.
“This is a sign that businesses are more in control of their cost management.”
