Yet more frustration surrounding fuel prices and fuel duty has been documented.
The Federation for Small Businesses is reported to have said that small businesses in the UK are being held back and cannot grow due to the recent fuel duty rises.
There are reports that many firms now have had to introduce unfavourable measures such as redundancies, pay freezes and even to stop research and development.
According to the survey which was carried out by the Federation for Small Businesses almost 90% of small organisations believe that the increase in fuel duty could cost in the region of £2000 within the coming six months.
With January seeing VAT rise to 20% and fuel duty increase too, immense pressure is now being experienced across the board and for small business cash flow is tighter than ever before. Unlike larger firms who have a greater ability to absorb the additional expense smaller organisation simply cannot do this.
The negative impact which fuel duty is having on smaller firms is enormous; not only is staff morale diminishing as workers fear for their jobs, innovation has been put on stop as budgets have shrunk and growth is near impossible. It is suggested that firms can no longer grow and they are now fighting to survive; there have been countless closures across the country already and for this reason, many small business owners fear this could be a sign of things to come!
The Federation for Small Businesses is just one of the groups reported to be urging the government to put in place a fuel duty stabilizer. Small firms are now seeking solutions to help in the fight against elevating fuel prices and also in the fight to survive.
If you would like to discuss how we can help you manage your fuel costs through this difficult time, please do not hesitate in contacting us on: 0845 450 5755.
No matter the size of your fleet of vehicles we are confident we can help you find a solution. Forecourt Fuels has a portfolio of fuel cards designed to help you manage your fuel costs in the most efficient way according to your individual needs.