Battle to survive expense surge

Treasury has warned in the Federal Budget that retail power prices will increase by an average of 20 per cent nationally in late 2022, and a further 30 per cent in 2023/24.
“Businesses are already feeling the pinch after Covid, with many of them a long way from bouncing back,” Immanuel said.
“It’s critical the Government look at subsidising solar batteries because those costs are prohibitive for small business, then more could benefit from solar.”
AccounTax Services Auburn owner Anwar Hussain says the rising electricity costs will send many businesses broke.
“They were already struggling and I know a lot of local businesses are dreading what’s to come,” he said.
I Love Manoush Lidcombe owner Tarek Hoblos says customer price rises are inevitable.
“We go through 400kg worth of cheese a week and that has risen by 40 per cent so we are paying an extra $1,200 a week just for cheese,” he said.
“I estimate we are paying an extra $3,000 to $4,000 a week in extra costs already and that does not take into account the rising electricity costs.
“Local businesses are fighting to survive so the Government must do so something and fast.”
International Barber Salon Auburn owner Jessica Tanak says their business is trying to absorb all of the rises but it’s not easy.
“It’s going to get a lot harder for everyone because the cost of living has risen so dramatically,” she said.
The Iron Man Granville owner Eddie says everything in his business runs on electricity and he has had to deal with the cost of materials and products rising by 40 per cent.
“It’s hard to ask customers to pay more as everyone is battling,” he said.
“We got solar panels and were receiving 12c a kilowat back but they have reduced that to 8c; electricity companies should stop being so greedy and give customers their proper solar reductions otherwise businesses will close, no one wants to run a business at a loss.”