K&H: Can every fifth company pull down the curtain due to high energy prices?

By: Trademagazin Date: 2023. 02. 13. 10:26

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Inflation and the continuous rise in energy costs are causing more and more problems for companies. Companies try to compensate for the latter primarily by limiting heating, reducing lighting and modernizing energy equipment, according to the latest data from the K&H SME Confidence Index. The rise in energy prices on the market also adversely affects almost half of the companies, and endangers the operation of every fifth company.

A difficult year awaits domestic businesses in terms of operating costs. According to the K&H SME confidence index, which indicates the expectations of Hungarian micro, small and medium-sized enterprises for the next year, several factors greatly complicate the operation of companies. “Last year already caused many challenges for businesses, and it is expected that this year will be no different. According to the MNB’s report, the annual average inflation was 14.5 percent last year, while this year it may be in the range of 15.0-19.5 percent, which places a heavy burden on companies. This is also supported by the results of our research among SMEs, according to which inflation and the rise in energy prices in 2022 made it significantly more difficult for companies to operate. Compared to the results of the second quarter of last year, inflation has almost doubled the number of companies (35%), and the increase in energy costs has hindered the activities of 30% of businesses instead of 20%,” said Zoltán Rammacher, head of SME marketing and sales support at K&H. regarding results.