As with any financing, the businesses who take up the fund will incur limited fees. They will also need to factor in basic set up and ongoing management costs in some cases. However, this is a great step to help SMEs to ensure that their energy costs are as low as possible, and that they can even diversify in to renewable sources of energy.
ReEnergise says that it expects the majority of interest for the fund to come from the manufacturing, farming, education, leisure and hospitality industries. However, there is a broad scope for the fund to help a wide range of small businesses across the UK. The energy efficiency industry in the UK is also to benefit from investment such as this, with government figures showing that it is currently growing at 4% per year, supporting 136,000 jobs.
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