Rising fuel costs add to SME woes

The number of small businesses reporting a rise in operating costs it at its highest in five years and set to get worse according to NI policy chair of the FSB Wilfred Mitchell.

Responding to the announcement that the price of both petrol and diesel have reached their highest since December 2014, he said the latest increases represented another threat to business survival and growth.

“Affordable travel on roads is absolutely vital to the success of small businesses and local economies, especially in rural areas,” he said as a poll of members revealed a third say fuel prices are a main cost factor, up from less than a fifth this time last year.

“That’s why it’s critical that the fuel duty freeze set out in the Autumn Budget is continued in future.

“Given that Northern Ireland is comparatively more rural than other parts of the UK, higher fuel costs can be particularly detrimental to local firms.”

“Over the coming year, we look forward to the Government doing its upmost to help small firms battle the rapid rise in operating costs.

“Where vehicles are concerned, that also means taking a hard look at the ever-increasing Insurance Premium Tax (IPT).

“Diesel vehicle owners are set to be hit with significant additional costs once forthcoming Clean Air Zones are in place.

We need to see the Government step up support for the many small firms looking to play their part in improving air quality by switching to cleaner vehicles.”