INSURANCE NEWS

Keep informed with our business insurance and commercial insurance news, updated daily with the latest news articles affecting UK businesses today.

Warning to SMEs over energy bills

http://pictures.directnews.co.uk/liveimages/Finance_873_18099878_0_0_4000654_300.jpg

Energywatch and the Federation of Small Businesses (FSB) are running a campaign to change the way small businesses are being treated by energy companies.

SMEs are obliged to sign up for energy in long-term contracts, often up to five years and unlike retail customers, are not given a cooling-off period to get out of it.

Larger companies may have a team of advisers who are capable of negotiating contract terms with suppliers, but FSB are claiming that energy companies often prey on SMEs' lack of legal expertise.

Huntingdon's MP told the Hunts Post: "There are companies out there operating on the verge of legality and businesses, particularly smaller ones, need to be on their guard.

"The best advice I can offer is for businesses not to sign up to anything over the telephone, and ask for all offers in writing."

Struggling to make bill payments can result in bankruptcy for small businesses, and analysts are advising them to be on their guard.




ADNFCR-873-ID-18099878-ADNFCR

Archive