Increasing costs hit small businesses

SMALL business group ISME says its members have seen their costs rise by 30% in the last three years.

In its latest survey of business costs, the group said its members had seen gas and electric price rise by more than 40%, while insurance premiums have doubled. The survey found that local authority rates, postal costs, labour and water charges had all increased significantly since 2002.

“It is disingenuous of the Government, on the one hand to exhort indigenous businesses to move up the value chain and increase productivity and on the other hand, restrict potential growth by sanctioning cost increases well above those of our competitors,” ISME chief executive Mark Fielding said yesterday.