Why every business should review its energy portfolio

british gas

With electricity switching rates making headlines in 2018, it is clear that your business is missing a trick by failing to examine its energy portfolio.

It has been reported that there is a particular reluctance amongst SMEs when it comes to switching suppliers. Smarter Business – a utilities broker that offers business services across a range of industries – has outlined the importance of reviewing your business utilities portfolio and the role this plays in boosting your bottom line.

Make the most of the open market

The beauty of the open market is that it fuels competitiveness between suppliers on price and customer service. As a result, the consumer is well-placed to negotiate the terms and tariffs that best suit their business by virtue of the system. Combined with a robust approach to evaluating gas and waste suppliers, these are areas of easy savings.

Ignorance is bliss – and bled profits

Many small business owners have claimed to be unaware of their ability to shop around for their utilities. Those who are aware primarily attribute their inaction to a lack of time, a reluctance to make a shift to the unfamiliar, and the hassle that goes with change. Simply put, this ignores the potential for huge monthly savings and improved service. Often, the reality of the switching process is not as daunting as it’s perceived to be. Utilising an energy broker to negotiate and compare quotes on your behalf not only streamlines the process and saves you valuable resources, but provides clarity on contract details and strategy which may otherwise have been overlooked.

Banking extra money through low-risk budget strategy

Great businesses don’t let their budget strategies stagnate. By reducing outputs, you stand to unlock other potential areas of growth and apply extra budget where your business needs it most. Using your energy, gas, and waste portfolios, you can boost business competitiveness in small ways which make a large impact.

Adopt a forward-thinking mindset

Being able to strategise for the future is an invaluable business trait. This is easily done when your business operates within the correct system and has access to pertinent information and data. By partnering with an energy expert, your business gets the added benefit of budget predictability through rate negotiation and data collection and analysis. You also have the assurance that, as your business grows, you have a partner to advise on the best utilities plans for your specific business needs. With increasing importance being placed on sustainability practices, brokers are also able to provide renewable energy options to ensure your business keeps up with mandated and conscientious trends. 

If you are sold on the idea of exploring your options around your utilities portfolio, work alongside the experts to procure the best deals and develop optimal strategies. Contact Smarter Business to find out more.