Every business needs to make money to be successful, that’s a fact. Considerable time and effort goes into gaining as much profit as possible BUT what should not be overlooked is the need to save your business money. After all, in today’s financial climate, who doesn’t want to save money? It seems ridiculous to spend endless hours and resources trying to make money if you don’t address ways you can save money; reducing the cost of your gas and electricity is guaranteed to be a great place to start.
A 2015 investigation by the Competition and Markets Authority revealed that around 40% of businesses haven't switched in the past five years, and 39% have never switched, so many could be massively overpaying (source:money saving expert). It is estimated that an average business could save £1,150 per a year on their energy bills! So the answer is yes, you can save money by switching.
“It is estimated that an average business could save £1,150 per a year on their energy bills”
The obvious benefit to your company will be financial. Huge savings are ready to be made, and it only takes a few minutes to complete the process. By switching you may end up with better customer service and your own account manager who will be there for you when you need help. Another not so obvious benefit of switching to a cheaper supplier is you will be contributing to reducing prices for everyone, how is that so? Well the more businesses that switch, the more energy suppliers will have to compete for your business by bringing down their prices, offering a cheaper deal for everyone. Also you will obtain a plan as unique as your business is, no two companies have the same energy needs, and for that reason most business energy suppliers will usually tailor a quote to your company, giving you independence from the standard plans most business’s settle for.
“No two companies have the same energy needs, and for that reason most business energy suppliers will usually tailor a quote to your company”
‘Many of you may be thinking ‘I don’t have the time or the patience to hunt around for a better deal and go through the process of switching. Don’t worry, it’s easy – it’s not much different from switching your home energy supplier and the transition should be just as smooth and quick.
Price comparison sites make it quick and easy to compare many different supplier prices, they do all the hard work for you! You will just need to answer a few questions such as what type of business you have, where it is located and how much energy it uses. To make this even easier just have your latest energy bill to hand which will have all the information you need on.
Gemma comments on her experience using a trusted price comparison site: "Saved a lot more than I thought, almost £700 on my businesses gas price each year. Customer service was excellent, very helpful”.
Keith also comments: “After having asked for quotations for business electricity supply I was speedily contacted by a few companies, one of whom gave us an extremely competitive quote and we have now agreed to switch supplier”.
Once you have received a few different quotes and reviewed them here comes the hard part; you have to pick the supplier and plan you like the look of! Once that’s sortedthen all you have to do is confirm the switch by providing your full address and bank details (if you’ve chosen a direct debit plan, which is usually the cheapest option). The rest is up to your supplier, they will be alerted to their new customer and sort out all the finer details, they will contact you after the two week cooling off period with follow up information about your service and switchover date.
“The hardest part of switching is deciding on a plan and supplier you like the look of!”
Some helpful information to bear in mind:
Everyone has heard of “the big six” energy suppliers, British Gas, EDF Energy, E.on, Npower, Scottish Power and SSE. But there are many more suppliers that are worth considering that can complete with the big six on price and service. There are many to choose from such as:
Most comparison sites will work with these suppliers to compare the different offers and plans available but if not it may be worth checking them out directly so see what deal they can offer your business. Many smaller companies offer perks and services not available with the big six.
Switching your business energy supplier is easy, simple and most of all beneficial in many ways to your business, especially financially. The power is in your hands to make a difference, not just for your business but for every one! Switch and save today, don’t just make money, save it!