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Watt's Money saving tips for SMEs

Publish on: 01/24/17 2:48 PM

Written by Elizabeth Ireland

Cutting cost when running a business may sometimes seem impossible, especially in an economy where prices seem like they are constantly on the rise. We have compiled some simple steps that all businesses can take to save money and possibly even help the environment.

Go Digital!

Reduce the amount of paper your business uses, not only will this cut costs (including printing costs) it’s also environmentally friendly. Cutting out paper completely might be impossible, so ensure paper is recycled and not wasted.

Be Energy Efficient

The easiest way to save money on your utilities is to use less energy as being energy efficient can significantly reduce your business utility bills. Here are some simple ways to be energy efficient;

  • Insulate your premises
  • Ensure all lighting and appliances are switched off before leaving
  • Switch equipment off, rather than leaving it on standby, when it isn’t in use
  • Fit energy efficient light bulbs
  • Don’t light areas when they aren’t in use
  • Ensure taps aren’t left dripping or running when not in use
  • Consider upgrading older appliances with ‘greener’ more energy efficient alternatives

Downsize

Don’t waste money on office space that isn’t necessary. Downsize to smaller premises if possible, or if you are a small business consider moving to a shared office.

Don’t Overspend

Make sure you are only forking out for essential costs. Do your homework and find out exactly what insurance policies you need and shop around to make sure you are getting the best deal. The same applies to your telephone and broadband services; every business will have different requirements, so check out what different packages offer, but keep in mind that it isn’t always the cheapest option to source the services from the same provider, even if it might be the most convenient.

Be Utility Savvy

Ensuring you are on the best tariff for your utilities is the simplest way to cut costs. All suppliers offer different rates and with the right knowledge you can find a great deal to suit your business’s needs. However, although switching can cut your utility bills, a survey conducted by Ofgem showed that 33% of small businesses haven’t switched in the last 5 years, and 44% of these have never considered switching.

At Watt HQ we have a team of utility specialists that have saved businesses over £120million since 2000, we know the ins and outs of every supplier, tariff and contract out there. Our switching process is straightforward and hassle free; with a few key pieces of information we can handle the entire process for you, and as we work alongside a large number of the UK’s leading suppliers we can offer the most current tariffs, at the best rates, that are perfectly suited to your business’s needs.

If you are interested in switching or renewing your business energy contract today, click here!


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Businesses, Electricity, Gas, Internet, Water