Belfast Telegraph

Fuel price hike has hit smaller firms hard

By Alan Jones

Small firms have seen their fuel costs rise by £17.5m in one month as a result of record fuel prices, according to a new study.

Bibby Financial Services estimates the UK's small to medium sized enterprises (SMEs) will spend an annual sum of £2bn on fuel in the wake of the huge increase in February.

Small business owners are now spending £451 on average monthly fuel bills, compared to £370 two years ago, said the report.

Bibby's Andrew Dixon said: "Businesses were calling out for the Government to use the Budget to provide support for SMEs in the UK, and freezing fuel duty would make a real difference.

"We believe there should be practical and direct measures taken by the Government to bring down the costs of running a business, otherwise it is hard to see how SMEs can begin to recover."