A report from business energy comparison service SwitchMyBusiness.com has revealed that 25% of businesses were worried about the cost of their utility bills, with a further 35% saying they might need to cease trading if financially speaking, life doesn’t get any easier.

The poll included more than 250 small business owners.

In light of the report, we’re sad to see that The Commons Energy and Climate Change Committee has said customers have been “duped” by some comparison sites and claimed SMEs are not getting the support they need.

In fact, business energy comparison through honest sites such a Project Lower is still a great way of easing your financial worries. Here’s why you should consider it:

1. It cuts costs

There are different ways to reduce spending on energy, such as adopting energy efficiency policies, but the first step should be to shop around for better deals or approach an energy comparison service.  

Checking that you aren’t overpaying on your utilities should be a key consideration and it doesn’t take long, or much effort to discover if you are.

Project Lower will do all the work for you, and we estimate a timeframe between two to four weeks from first contact, to getting you onto an improved tariff.

2. It’s good business

Within a business, saving money through utilities will put you in good stead for future investment or expansion.

Through reducing spending on things like energy, smaller businesses that are trying to get a foothold in the market can also make steps to securing their long term future.

In addition, if you’re going through a rough patch, saving cash this way will go some way to easing the stresses associated with these financial worries.

3. To avoid rising energy prices

The Committee on Climate Change are predicting business energy costs will rise by around a third by 2030.

Additionally, they say that low carbon policies currently account for 26 per cent of commercial energy sector bills. This is expected to rise as more businesses consider these policies to protect themselves from rising energy prices.

So, through a combination of low carbon policies and active energy comparison, your business will remain competitive.

4. To survive

As we covered in the opening paragraph, many businesses are anxious about their finances, with survival also being a key concern.

One way of increasing chances of survival, and to enjoy a prosperous future is to negotiate for better deals, reducing monthly and yearly outgoings.

 

Honest savings with Project Lower

As a buying group, Project Lower has access to rates that aren’t visible to individual businesses.

Get in touch on 0330 333 4106 for honest advice on how you can keep your energy costs down by getting the right deal for your business.