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Petrol prices 'affects' small business growth
Posted by peopleperhour.com - 27/06/2008 13:00
The high cost of oil worldwide, and high duty imposed by the government has created an unstable problem for small businesses.
That's according to Phil McCabe of the Forum of Private Business(FPB) who said that few SMEs are seeing any point in planning for the future because of the high price, and continuing rises, in petrol.
Mr McCabe said: "The UK is currently facing a toxic combination of problems due to surging world oil prices. This has created an unstable situation for small businesses in the UK, many of which see little point in planning for their future.
"FPB members are already reporting adverse effects to their business, saying they are struggling to pay for the inexorable rise in fuel prices."
In a recent poll by the Federation of Small Businesses, over 80 per cent of 9,000 small business owners surveyed said that they would have difficulty in expansion and recruitment over the next 12 months as a direct result of fuel prices.
That's according to Phil McCabe of the Forum of Private Business(FPB) who said that few SMEs are seeing any point in planning for the future because of the high price, and continuing rises, in petrol.
Mr McCabe said: "The UK is currently facing a toxic combination of problems due to surging world oil prices. This has created an unstable situation for small businesses in the UK, many of which see little point in planning for their future.
"FPB members are already reporting adverse effects to their business, saying they are struggling to pay for the inexorable rise in fuel prices."
In a recent poll by the Federation of Small Businesses, over 80 per cent of 9,000 small business owners surveyed said that they would have difficulty in expansion and recruitment over the next 12 months as a direct result of fuel prices.
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It never fails to amaze me how many company cars are "gas guzzlers" - you'd think that in these times of economic uncertainty one of the first savings would be on fuel especially for small businesses which will be first to feel the impact of rising oil prices.