Small firms lack trust in energy suppliers, research shows

15th January 2013 | News

Small businesses feel increasingly disappointed with their energy supplier, according to new research that shows rising prices are leading more to consider changing their provider.

Research by Ingenious Britain revealed that only 28 per cent of firms have faith in their energy supplier - fewer than those who trust their banks and lawyers.

This change of mood is likely to see more switching providers in the coming months as they look to reduce their costs.

Jonathan Elliott, managing director of price comparison website MakeItCheaper.com, explained that more firms will vote with their feet instead of seeing the launch of lawsuits.

"The 53 per cent of businesses looking to switch in 2013 is higher than the 46 per cent that the regulator, Ofgem, has reported to have ever switched and so it looks like this will be the year that hard-pressed SMEs finally get even with their suppliers," he said.

It comes after R3 revealed that 37 per cent of small businesses are expecting to post lower profits in the near future, suggesting many will be looking for ways to cut costs in the months to come.

Posted by Thomas Fletcher