January is a time for reflection for most people and this includes business owners, with the new year bringing with it an opportunity to take stock of performance during the past 12 months, create goals for the year ahead, and ensure that you start the new year in the best position possible.
Utility bills make up a large proportion of a business’ overheads, so when it comes to your financial health check, managing your business energy costs is a critical part of this. Here’s what you can do to start your new year on the right foot…
Review Your Energy Contracts
A good energy procurement strategy means more than just renewing your gas and electricity contracts at their end dates – it’s always worth reviewing your current contracts to see where you could be paying less. Are you on the right tariff for your business needs? Have you missed a renewal date, leaving you stuck with a poor value default rate? We can perform a free, no-obligation energy assessment to confirm whether your utilities are performing well and unearth any cost-saving opportunities. Plus, we can set up renewal reminders to ensure you avoid those pesky rollover rates!
Be Mindful of Consumption
Did you leave the office lights on over Christmas? If you did, chances are that this will have gone unnoticed, but it will have undoubtedly cost you money. Improve the way you use energy with a business smart meter, which can help you to monitor and reduce your energy consumption – after all you can’t manage what you can’t measure. We work with suppliers who offer free smart meters and can arrange this on your behalf.
New Year, New Supplier?
According to Ofgem’s Micro and Small Business Engagement Survey*, 36% of businesses were too busy to switch energy suppliers and 35% thought that something would go wrong if they switched. This lack of engagement is costing small businesses money, with many small business owners put off by the complexity of the energy market.
We understand that finding the best deal can be time-consuming and complicated – the energy markets are ever-changing, with prices affected by everything from the weather to political events. Our energy experts track electricity and gas prices daily, so we can find you the most competitive deal. The results speak for themselves – we save SMEs an average of £500 on their renewal quotes.
*Ofgem Micro and Small Business Engagement Survey 2018 – Micro and small businesses that haven’t switched supplier or tariff in past 12 months.