Smaller firms fearful as fuel prices surge higher

BRITAIN’S businesses are struggling to absorb the effects of rising fuel and energy costs, the Yorkshire Bank’s latest quarterly business confidence survey suggests.

More than 50 per cent of those polled, which included members of the Leeds-based bank’s UK wide Financial Solutions Centre (FSC) network as well as non customers, claimed continued rises in energy and fuel costs would have a negative impact on their business.

With oil prices reaching record highs and UK fuel costs edging ever closer to

Concerns were universally high among energy and fuel intensive businesses such as distribution, logistics and manufacturing firms.

However, companies operating in sectors less traditionally dependent on energy are also now feeling the strain, with 56 per cent of retailers and 41 per cent of consultancy businesses surveyed reporting significant negative effects.
In the financial services market the figure was 28 per cent, while 58 per cent of hospitality companies were expecting their business to suffer.

Yorkshire Evening Post