The number of companies in financial distress has spiked in parts of the UK to the highest level since the 2007-8 global financial crisis laid waste to the global economy. The latest government figures show that in August more than one in ten UK businesses reported a moderate-to-severe risk of insolvency (being unable to pay the bills). Nearly a quarter of these companies say energy prices are their main concern.
Average annual energy bills can start at £3,000, rising to as much as £5,000 for small businesses in some parts of the UK. And more companies – particularly smaller organisations – are becoming worried about the impact of energy costs on business growth.
