When does furlough end?
The UK Government’s furlough scheme has been a lifeline for businesses of all sizes over the past 12+ months. Companies have been able to navigate the unprecedented challenges of a global pandemic without the pressure of maintaining staff wages or having to let employees go, but as of September 2021 the furlough scheme is finally coming to an end.
The rippling financial impact of COVID-19 will be felt by businesses across every sector for much time to come, and the effort to recover lost earnings whilst generating new income is far from over. With every penny mattering, now is a great time to look at other ways to save money and reduce your business outgoings.
Check your business energy tariffs
When was the last time you checked your energy tariffs? Do you know when the last price increase was, and how much your business energy spend has increased by? This last year has had business owners focusing their attentions elsewhere, so it’s understandable if you’ve left your energy tariffs to tick over for a while. But with the cost of energy due to rise significantly in October 2021, now is the time to dive into the detail and review your gas, electricity and water tariffs.
Calling your energy suppliers is a good place to start, asking them for their recommendations for the best tariffs to meet your usage needs. If that sounds like a headache, then it’s time to loop in a business energy broker. Negotiating the very best deals, optimising your tariffs, and locking in great prices on your business energy is what we do best!
Switch business energy supplier
Checking if there are better tariffs available with your current supplier is a great first step, but shopping around the marketplace and comparing businesses energy suppliers is the key to unlocking the big savings. Unfortunately, there isn’t much reward for loyalty to providers these days, so regularly switching energy suppliers and sourcing different products from multiple suppliers is often the best way to keep the cost of your business energy down.
Again, don’t ignore the potential cash saving here just to spare yourself the time and stress of comparing and switching business energy suppliers. Work with a business energy broker and let them do the legwork! We know the market better than anyone and can narrow down your options and leverage our relationships with suppliers to access better deals.
Audit your energy usage
So you’ve picked the low hanging fruit and got yourself a better deal on your business energy with a cheaper tariff or a different provide. Now what? We recommend taking a look at ways you can optimise and reduce your energy consumption with an energy usage audit.
This holistic report analyses how your business consumes energy to identify areas of opportunity, and outlines suggestions to reduce your energy consumption and/or make it cleaner and greener. As part of our energy usage audits we provide estimated costs for implementing each recommendation, along with forecasted savings to offset the initial investment. We also signpost you to any grants or funding that can be accessed to help you make these improvements to your energy infrastructure; there are lots of schemes available to help businesses optimise their energy, reduce consumption, and make long term savings.
Consider self-generating energy
Depending on the type of business you run and the premise from which you operate, self-generating some of or all of your power is a great option for many. There’s a number of ways this can be done – again, depending on the type and location of your business. A business energy broker can help you assess the options and opportunities, and forecast projected savings. Businesses who self-generate energy yield fantastic cost and carbon savings, and in some cases even make money by selling surplus energy back to the grid.
Consult a business energy broker
The list of opportunities to optimise your business energy and save money on your outgoings is endless and will vary from business to business. The best way to get advice, recommendations and support that is absolutely tailored to your unique business circumstances and goals is to consult an expert business energy broker. You can fully outsource your business energy management to a broker, or simply tap into our expertise to support your team in-house.