How Do I Switch my Business Energy?
Comparing costs and switching business energy supplier is often cited as one of the best ways to make sure you’re not paying more than you need to for essential services. However, what we’re finding is that many are still concerned regarding how much time, effort, and money it will cost them to transfer their accounts to a different provider. Businesses are worried that switching suppliers means a drain on their internal resources and working capital, which could have significant effects on productivity and profits.
Believe it or not, switching your business energy supplier is simple, and under changes that have been made recently, it’s even more straightforward. Businesses are no longer required to cancel their account with one supplier, and then sign a contract with another – the transfer is all done for you for a quicker, more streamlined experience. Here’s what you can expect when you change business energy suppliers:
- Step 1: Compare Business Energy Prices – Fortunately, in the digital age it’s not necessary for you to spend hours (even days) trawling through different materials and calling different suppliers to try and identify the best rates. Business comparison websites, like compareyourbusinesscosts, collate data from across the market, giving you access to a wide range of products, services, packages, and costs all on the one page. These quotations are tailored to your business, based upon the information you provide and individual preferences you select.
- Step 2: Switch! – Once you have located a great package at a great deal through the price comparison website, all you need to do is tell the website you want to get the ball rolling with the switch – it’s all done through a single click of the mouse! You’ll be asked to supply a little more information about your business which the new supplier will use to set up your account. In many cases, the new business energy supplier will require your business name, address, and any necessary payment information, such as bank details.
- Step 3: Administration – The good news for businesses is that your part is now pretty much over. The final step to making the switch is mostly internal, behind-the-scenes administration and correspondence between the old business energy supplier and the new business energy supplier. There are only a few small tasks that you’ll need to do. For example, you will usually be required to confirm the switch with your new supplier to avoid any mistakes occurring, and you may be asked to provide meter readings for accuracy.
Assuming that there are no hiccups along the way, most businesses will be able to switch their business energy supplier within 4 to 6 weeks of making that initial enquiry through the price comparison website. Comparing prices and switching supplier really isn’t as difficult, costly, or time consuming as it sounds, and it can help your business to save money, leaving you with more capital to invest in future growth.