Back Our Businesses: Chronicle & Echo launches campaign to raise awareness of cost of living crisis’ impact on businesses

Every Thursday, Back Our Businesses will give a platform to business owners across the town, from a variety of sectors, who want to share how the cost of living crisis is impacting what they do.

This comes after calls for the government to put businesses on an equal footing with individuals, as everyone is suffering the consequences of increasing energy bills – and a new scheme was unveiled by business secretary Jacob Rees-Mogg on September 21.

Prime Minister Liz Truss said: “I understand the huge pressure businesses are facing with their energy bills, which is why we are taking immediate action to support them over the winter – and protect jobs and livelihoods.”

The new scheme will see wholesale energy prices cut for non-domestic energy customers, which includes businesses, and protects them from rising energy costs.

The support will be equivalent to the Energy Price Guarantee that has been put in place for households, and businesses do not have to take action as it will automatically be applied to their bills.

This will apply to energy usage from last Saturday (October 1) to March 31 2023, running for an initial six-month period.

Despite this support being introduced by the government, there is no guarantee this will continue for businesses for the two-year period that has been set for individuals paying household bills.

And it is not just increasing energy prices that businesses are having to contend with – as this is having a knock on effect on the price of their stock and resources, and the fair wages they need to pay staff to afford to live.

This is why the Back Our Businesses campaign is needed now more than ever, as if we do not act quickly, there may be no return for some companies.

Back Our Businesses has the backing of Northampton Town Centre Business Improvement District (BID) and the Federation of Small Businesses (FSB), who work tirelessly to support the needs of businesses across Northamptonshire.

As well as this, Councillor Emma Roberts, who represents the Labour Party in Delapre and Rushmere, and Andrew Lewer, a Conservative MP for Northampton South, have expressed their support.

Mark Mullen, operations manager for Northampton Town Centre BID, said: “Every product we buy from every business we visit will be affected in some way. The impact this has on businesses cannot be underestimated and it’s vital we support each other through this to ensure we come out the other side.

“This campaign gives a voice to those businesses who need support now more than ever. Rather than shouting into a void, we can all come together to voice our concerns and ensure our message is delivered to those who need to hear it.

“What stood out during the pandemic was the adaptability, resilience and determination of businesses to innovate and find new ways of doing things to not just survive but thrive. This latest challenge will require a similar response.”

Mark says the BID will “be there throughout to represent the town centre’s businesses and ensure they get all the help they need”.

Representing and lobbying for businesses beyond the town centre is the FSB, which supports 500 small businesses in Northampton and a total of 2,000 across Northamptonshire.

Talking to the Chronicle & Echo on behalf of the FSB was Jennifer Thomas, the development manager for Northamptonshire.

Jennifer said: “It is really important for businesses to have a voice locally, and this campaign can make a difference in ensuring they are put as a priority.

“We have been worried for a long time and have been shouting loudly about our concerns – as everything starts with business costs, which have a knock on effect for consumers and individuals.

“Keeping prices low, which can only be done if business outgoings remain low, will maintain the vitality on our high streets and preserve important jobs.

“The costs faced by businesses and individuals are intrinsically linked with one another.”

The FSB has seen a recent surge in the number of members using its ‘debt recovery service’ and seeking advice for mental health and stress management – as “these challenges put pressure on already squeezed resources, and cause long hours and sleepless nights for business owners,” says Jennifer.

Cllr Roberts, who backs our campaign, says the council “anticipates an overspend of more than seven million, some of which is due to inflation rates and additional utilities”.

She said: “We must not forget that business owners run homes and have families.

“They will be feeling the pinch both at work and in their family life – and something has to give.

“It’s important we pull together to be vocal about these issues, which often brings about action. We need to shout it from the rooftops.”

Andrew Lewer MP says he is “heartened to see the Chronicle & Echo is giving a vital platform to businesses”.

“If we keep the heads of our local businesses above water, it gives households a fighting chance of getting past this winter,” he said.

“I spent last Friday visiting Northampton businesses to gauge the issues they are facing.

“Our small and medium businesses are the economic lungs of the town and employ huge numbers of people.

“If they go bust, people will not be in a position to pay their energy bills.”

If you are a Northampton business owner and want to share how the cost of living crisis is having an impact as part of this campaign, you can email [email protected].