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High Electricity Costs Hit Business
There is another warning about the skyrocketing costs of electricity in Wisconsin.
The National Federation of Independent Businesses is out with the results of its Small Business Energy Survey, and they are not good.
The NFIB’s report states:
“Anyone running a small business in Wisconsin will tell you that rising energy costs are hurting their ability to operate and grow,” NFIB Wisconsin State Director Luke Bacher said.
The NFIB report says businesses are worried about their car and truck fleets, and energy efficiencies there. But the report said heating, cooling, and operation costs are the main worries.
“Earlier this month, we heard talk in Madison of more investments in energy alternatives; however, shouldn’t we instead look for ways to help our small businesses that are burdened with high utility bills and regulations?” Bacher asked. “Our Main Streets are the backbone of our economy. Wisconsin cannot succeed if our small business community isn’t thriving.”
The report notes that while 26% of businesses reduced their energy use, and 24% of businesses upgraded to more energy efficient lights and such, many other businesses had fewer choices in dealing with higher energy costs.
“Small business owners absorb higher energy costs in a variety of ways that affect growth and consumers. Lower profits (58%) and higher prices (52%) are the most common ways small business owners are absorbing increased energy prices.” the report added.
The report noted that electricity is the biggest cost driver, with 60% of small business owners saying it is getting more expensive. The price of diesel, gas, and then natural gas round-out the top four energy concerns.
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