The best place to start a business savings review is energy costs. Recent reports show over 60% of UK businesses are overpaying for business utilities. It has been identified that it is the responsibility of business owners to conduct their own energy savings review. Previously this has been a time-consuming process many business owners have been reluctant to dedicate valuable time to. However, a number of high profile entrants to the energy savings market have simplified the process while providing the vital support that business owners require.
Utility companies do not encourage users to save money. As it is their responsibility to sell energy and generate profit. If a small business uses the same business model. They can quickly identify it is their responsibility to negotiate the best deal possible and generate the highest possible savings. With UK businesses losing over £4,000 each year, through overpaying on utilities. It is clear that a financial black hole exists. This raises the question, what can a small business owner do?
The first step is to consider what you would do in your own home. Over the past decade, over 70% of homeowners have employed the use of a utility switch provider to identify cheaper suppliers and more cost-effective tariffs. In most cases, homeowners have used a cost comparison website where they have been able to quickly and efficiently identify the savings available to them. The question currently being asked by CompareYourBusinessCosts.com Is why don’t business owners do the same thing?
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The second step involved in the business energy saving revolution goes even further. With an increasing number of government-supported schemes encouraging businesses to reduce energy consumption. An increasing number of incentives and tax schemes exist. That have been developed to reward businesses for reducing energy consumption.
The simple process of replacing existing lighting with LED lighting can save businesses thousands of pounds each year. A number of environmental groups have stated that homeowners will switch off a computer when leaving the house. However, many business owners will leave dozens of computers in sleep mode when they leave the office for the day. It is not only money that these businesses are burning. They are also burning environmental resources.
Business owners are being encouraged to develop a simple energy saving code of conduct. By turning off lights in rooms that are not used and powering down electronic equipment each day. Businesses can save thousands of pounds each year. While helping to have a positive environmental effect.
Your energy supplier is not going to tell you to use less energy. It is up to business owners to be proactive and take the simple steps involved in generating substantiation financial savings each year. The first step is to compare energy savings plans and the second is to employ an energy saving code of conduct.
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