In its Business Boost Report, business energy provider Opus Energy has revealed that many SMEs in the UK are missing out on potential savings by not shopping around for the best possible deals.

The findings reported 81% of those responsible for energy decisions do not take time to look for cheaper deals with other suppliers, or consider when their current contract is up for renewal.

Worryingly for businesses, nearly a quarter (24%) do not have energy contracts and continue to be overcharged through old rates, yet 57% considered cost to be the most important consideration.

This suggests that SMEs could benefit from a comparison service that finds cheap business energy deals, ensuring their savings can be utilised in other areas.

500 SMEs took part in the survey which aimed to gain an understanding of their attitudes towards energy management and financial habits.

Nearly half don’t have smart meters

It was found that 49% of businesses still don’t have a smart meter, but of those who do, 20% are still unsure of how to utilise them in order to make savings, suggesting further training or guidance is needed.

Clean energy was considered to be important; with 78% saying they would be open to switching to renewable energy and 38% of those saying this is because it would boost their ‘green credentials’, an important factor in the current business climate.

The three most important factors when choosing supplier were cost (50%), Customer service (36%) and reputation (28%).

Saving your business money

Project Lower can save you both time and money on your energy decisions, finding you the best deals through our business energy comparison service.

If you would like to speak to Project Lower about your business energy requirements, please contact us or call on 0330 333 4106 to see how much you could save.