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Businesses under pressure

Small to medium-sized businesses are feeling increased financial pressure in the current economic climate - prompting many to implement cost saving measures.

Data from the Telstra Back to Business Survey 2011 has highlighted the need for businesses to reduce energy costs in order to remain competitive and financially sound in the coming quarter.

23 per cent of businesses are concerned over interest rates, with the same amount that cite the Emissions Trading Scheme and carbon tax are adding further stress.

The figures come amidst increased pessimism about the state of businesses in the last six months.

38 per cent of SMEs stated that they believe their business is in a worse position compared to six months prior.

The percentage of businesses who believe the economy has improved has also halved, down from 42 per cent to 21 per cent.

In an effort to weather the current climate, businesses should ensure that they begin to implement energy saving strategies that reduce electricity prices.

Any businesses which relies on a regular and reliant supply of energy can make significant savings by focusing on conserving power - or alternatively - consulting a switching service to explore the option of saving by changing electricity suppliers.