The number one unpredictable expense that most micro and small business owners face is energy costs.
Energy costs can be an expensive line item on your microbusiness’s P&L. To impact your bottom line positively, you need to find ways to reduce your utility bills.
Read on to learn more about how to keep your energy costs under control.
The Size of Your Business Matters
Energy costs may take up a large part of your budget, depending on the size of your business. But taking control of your business energy may lead to significant savings.
When reviewing your energy plan, it’s important to keep this in mind when inspecting how your energy is charged and what this may mean for your business.
All businesses have different energy demands, and things like your business’s size, site location, operating hours, and the number of employees can impact your energy usage and costs.
For micro businesses, every penny counts. So be sure to look for efficient ways to control your energy and choose an energy plan that doesn’t include additional fees.
Microbusiness Energy-Saving Tips
There are many ways for micro businesses to save on energy costs, and most can be done with simple, small changes.
If you’re unsure where to start as a micro business owner, we’ve provided you with a few effective energy-saving tips to help jumpstart your cost savings!
1) Conduct an energy audit
An energy audit can help you identify areas of your business where energy use is high and impacting your finances. Energy audits present information to you in a way that’s easy to understand and will suggest actions for reducing energy usage.
A few commercial energy suppliers offer free energy audits, but it’s worth checking if you can get one from your current energy provider.
2) Turn appliances and lights off when not in use
Although it’s convenient to leave electrical appliances on standby, this is one of the biggest culprits of high energy costs. Many appliances still consume energy when in standby mode, so try to switch them off after every use. The same goes for lights.
3) Get your employees onboard
It’s much easier to save energy if you ensure your employee behaviour is the same as yours. Saving energy in your workplace is a team effort, so get them involved and encourage them to provide suggestions on improving energy efficiency.
4) Get a smart meter
A smart meter can help you be more efficient with your gas and electricity usage. They track your energy use and send readings to the supplier, ensuring you’re accurately charged for the energy you use.
They constantly remind you to keep on top of your energy usage with a visual display showing you how much energy you’ve used.
You can find out if you’re eligible for a smart meter by contacting your energy provider.
Switch Your Energy Supplier
Did you know that you can switch to a new energy supplier with minimal hassle in just a few weeks? Switching to a cheaper provider is one of the easiest and most effective ways to reduce energy costs.
Due to the lack of a price cap in the commercial sector, a switch in supplier can significantly impact how much you pay for electricity and gas.
Suppliers offer various tariffs; some even offer different rates for use at certain times of the day. Thus, it’s worth researching the different suppliers and choosing the right one for your business.
With a comparison service, you can easily see how much you could save on your commercial energy tariffs with just a few clicks.
But if you are fixed into a contract and thus unable to switch suppliers, don’t panic. You can still save on energy costs with your current supplier, as some will allow you to switch to a cheaper tariff.
There are many ways to save on energy costs for your microbusiness, but switching to a different energy supplier is arguably the best.
Before switching to a different supplier, you should compare which suppliers offer the best value and suit your microbusiness’s needs best! Check here for more info on price comparison for your micro business; switching has never been easier!