Small business owners in Ireland believe that up to 15,000 SMEs may have to pull down their shutters if the government doesn’t offer them an energy support package in the upcoming Financial Budget. Disclosing this, the Irish SME Association (ISME) said costs of small Irish businesses would presumably surge significantly as many monthly energy bills have already doubled. Though the government has reduced VAT on electricity and gas to 9% from 13.5% until the end of October 2022, energy prices may witness further hikes in the near future. However, many small businesses may be unable to cope with such cost increases.
