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Energy's Impact on Your Business
What's on Business Owners' Minds? Energy.
In this challenging economy, business owners are looking to save money on expenses wherever they can. A recent survey from the American Express OPEN® Small Business Monitor found that more than 80 percent of all business owners feel the impact of higher energy and gas costs. More than two-thirds say that these energy costs have had a significant impact on their business, while the number of owners who report lost sales because of energy prices to be 40% (up from just 17% a year ago).
Due in part to these higher energy costs, the survey found that one-third of business owners have had to raise their prices to their customers.
The good news – almost half of all business owners are using energy-saving practices to help cut their energy spends.