Small business owners hit hard by electricity prices


Published 25 January 2023 at 17.36

Economics. Last year's high electricity prices affected many private individuals, but also entrepreneurs who depend on electricity in their business. If's annual business survey shows that small business owners in the metropolitan regions fared best, while business owners in southern Sweden saw the greatest negative impact.

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The electricity subsidy for private individuals and companies has been a matter of attention during the winter. The support to companies is expected to be paid out in February or March.

In insurance company If's annual survey, carried out by Novus, among small business owners, concern about the price of electricity has risen among the major challenges.

Concern over high electricity prices comes in fifth place in the survey, when 22 percent of the respondents highlight electricity shortages and high electricity prices, before other threats such as floods, accidents or cyber attacks.

– We have many struggling corporate heroes out there, says Frida Lagergren, responsible for business insurance at If, in a press release.

According to the survey, every third small business owner (35 percent) believes that the business has been negatively affected by last year's electricity prices. This applies to a greater extent to entrepreneurs in southern Sweden and Småland and the islands.

1 in 4 worry about major social crises such as the corona pandemic and an equal number about being exposed to burglary/theft. Just over one in five (22 percent) worry about electricity shortages/high electricity prices.

The survey has been carried out by Novus on behalf of the insurance company If. Number of completed interviews was 1,075, during the period 3 9 November 2022. The target group was small business owners aged 18 to 79, with between 0 and 50 employees.