One in four business leaders (24%) believe the Government's energy bill relief scheme (EBRS) has removed a "serious risk" to their business, according to a poll by the Institute of Directors (IoD).

Out of nearly 500 directors, more than 200 reported energy making up more than 5% of their costs, 11% of which stated they have been able to keep their premises open for longer due to the scheme.

Furthermore, 35% stated that having the energy price cap in place over the winter has made it easier for their business to plan for the future.

Of those surveyed, 5% said they would have stopped trading altogether if the Government had not stepped in to help businesses with energy bills.

However, the vast majority of directors (73%) said that, while the price cap is helpful, it is not the deciding factor determining the future of their business.

Alex Hall-Chen, a senior policy advisor at the IoD, said:

"Our data shows that the Government's energy bill relief scheme has been a crucial intervention, removing a serious risk to around a quarter of businesses.

"We therefore urge the government to continue the EBRS for sectors of the economy particularly vulnerable to current fluctuations in international energy markets."

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