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Business SOS

WORSE THAN THE PANDEMIC: BUSINESSES COUNT DOWN THE DAYS AS IMMINENT COLLAPSE OF THE HIGH STREET MAY BECOME A REALITY

Following rumours of an energy prize freeze, over 150,000 businesses from across the UK are urging Government to act on spiralling energy costs which are proving more detrimental than the pandemic.

The #BusinessSOS campaign warns of mass closure and redundancies if immediate and effective action isn’t taken – the true situation that Britain faces today.

The newly formed #BusinessSOS campaign, founded by organisations representing over 150,000 retail, leisure, hospitality and tourism businesses warns harm caused by the spiralling energy crisis is superseding the pandemic with the potential to cause irreversible damage to UK high streets and the economy.

The #BusinessSOS campaign believes mass closures and redundancies are inevitable if Government does not swiftly implement measures that alleviate the critical pressures that businesses, like households, have been facing since April 2022.  

#BusinessSOS three-point-plan to support ailing businesses:

Reduce VAT
•    Headline rate reduced from 20% to 12.5%
•    Business energy bills reduced from 20% to 5% to match domestic billing

Business Rates Relief
•    100% rate relief until 31st March 2023

Energy Rate Relief
•    A discounted kwh price on all business energy bills

Matthew Sims, Founder of #BusinessSOS campaign and CEO of Croydon BID said,
“The new Prime Minister has days to save the high street as we know it. The impending announcement on how the Government will tackle the energy crisis facing businesses will either ensure businesses can remain trading or set in motion mass closures and redundancies. To say the energy crisis is worse that the pandemic is not an understatement, it is the reality facing businesses today and why the clock is ticking for the new Government to provide clarity and introduce measures providing tangible and immediate relief.” 

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