It can be a tough time setting up as a new business, especially in the stone worktops industry, and even more so when we are facing a battle against rising costs. In a energy-intensive industry like stone fabrication, there is a constant balance between working efficiently and managing the cost of the energy we use. Fortunately, there is government support available for new stone fabricators, although it is currently not common knowledge.
There is now and Energy Bills Discount Scheme support for Energy and Trade Intensive Industries (ETIIs) available, which can help ease some of the burden of overheads. From the 25th July 2023, you are able to apply for this scheme if you began trading after the 26th April 2023. There are some stipulations to the discount scheme:
- You have to be a new organisation
- And you must generate at least 50% of your revenue from activity in an eligible SIC code (23700 is the SIC code for the cutting and shaping of stone which is eligible)
Upon application you will have to provide at least 6 months financial evidence that you meet the criteria and you must apply within 90 days from the date you gathered the evidence.
You’ll need to generate at least 50% of your income from business in the UK, that falls under SIC code 23700.The discount is capped to 70% of the energy you use and you must have a business contract with a licenced energy provider. There are also a number of other provisos regarding your tariff, and the discount is only eligible:
- on existing fixed price contracts that were agreed on or after 1 December 2021
- signing new fixed price contracts
- on deemed/out of contract or variable tariffs
- on flexible purchase (or similar) contracts
- on variable ‘Day Ahead Index’ (DAI) tariffs (Northern Ireland scheme only)
You should apply even if energy prices are currently lower than the threshold to receive the discount. To apply you will need to gather information relating to your business and fill in your application and submit online here.
At Stonegate, we have supported new and growing businesses for almost 40 years now – and we understand how difficult it can be starting out. That is why we’re here to offer support, advice or even just a friendly ear. You can visit our Innovation Hub to test out the most cost-efficient and effective tooling, or gather information on how to set up your workshop to maximise profits. Or we can arrange you come visit you and help you out on site. We are happy to do this free of charge – just get in touch to find out more on (+44) 1482 620400 or email@example.com!