As tensions mount across the nation on the rising energy costs, the newly appointed Prime Minister, Liz Truss, announced her plan to tackle the energy crisis.

What is the current situation?

A record number of small business owners may be forced to close their firms over the coming twelve months, putting the UK on course to lose more than a quarter of a million businesses, according to the latest Small Business Index.

This is caused, in part, by the soaring costs of living and increasingly inflated energy costs.

SNP leader Ian Blackford said in parliament today –

“Businesses are facing a fight for survival and the UK government needs to grasp the scale of the emergency.

 

Pylons

What was in the announcement?

Newly appointed British Prime Minister Liz Truss has announced an estimated £150 billion package to mitigate increasing energy costs for British businesses and households. However, according to the Prime Minister, businesses would receive “equivalent support” to households for a period of 6 months with further support for “vulnerable industries” after that period.

Craig Beaumont, chief of external affairs at the Federation of Small Businesses said 

“There is a worrying lack of detail and lots of questions about practicalities, while the six-month cliff edge does not match the two years of consumer support.”

Many UK businesses are hoping to hold out from entering into fixed energy contracts until the government’s relief package is made clearer. This leaves brokers in a precarious position. If the PM introduces a price cap on the commercial energy market, this would mean energy brokerages across the UK will struggle to advise business customers to a fixed contract. 

Parliment

How can PreAction help?

There has never been a more critical time for energy brokers to assess their position and explore ways to improve cash flow in order to protect their business for the future. PreAction is the only business in the UK offering a range of expert solutions to support energy brokers including revenue recovery, dispute resolution, claims defence and much more.

We draw upon decades of combined industry experience in both the energy brokering and legal sectors to offer specialist solutions to help energy brokers increase and optimise cash flow, futureproof your business and improve the service you offer your customers.

Our objective is to provide a successful foundation for energy brokers to become sustainable and resilient, ensuring financial stability.

If you would like to find out how PreAction can support your business with a range of services including revenue recovery and claims defence & dispute resolution, give us a call on 0191 5807231, drop us an email at info@preaction.co.uk  Or download our brochure of services here.

Are you an energy broker in need of revenue support? – PreAction it.