New research released by software comparison website Software Advice highlights how Australian SMEs are affected by electricity shortages and price increases.
Overall, 95 per cent of SME decision-makers saw an increase in electricity bill prices, with 81 per cent of them saying that such an increase has impacted their company’s performance and around 67 per cent said that the increase affected the company’s profits.
In particular, 64 per cent (out of the above 67 per cent) said they experienced a five to 20 per cent decline in their company’s profits throughout 2022. Among the respondents who didn’t see an increase in prices, around four per cent expect to see it in the future.
The situation has pushed SMEs to adopt measures to handle the surge, with 53 per cent saying that their companies reduced energy consumption, while others adopted measures like company-modified processes, installing their own renewable energy systems, and a few even stopped production during peak hours.
By contrast, around 10 per cent of the surveyed respondents said their companies have not taken any measures yet though there are plans to take them soon, whereas four per cent said their company has not taken any measures yet and does not plan to take them in the near future.
When asked about the availability of government aid during this surge, 41 per cent said that there is no such government aid in existence while around 23 per cent said that their company has requested the aid but is not yet receiving it. And 14 per cent said though that their company is receiving government aid, and 12 per cent said that the aid exists, their company has not yet requested such assistance.
Regarding the type of aid available, of the respondents who have received it, 50 per cent said they were given subsidies to migrate to lower consumption of electrical systems and equipment, 40 per cent got reductions in electricity bills, 28 per cent received monetary subsidies, and 25 per cent got discounts on the installation of renewable energy equipment.
