Energy savings ‘key to reducing costs’

Small and medium-sized enterprises should first look at their energy spend when determining how to cut costs.

Erica Russell, a sustainable business advisor from Business Link, says that knowing how much is spent on energy is a simple step, but one which is often neglected by firms.

She continues: ‘We know that even for very small businesses being able to know and see what your energy use is can have a big impact on the spend.’

In addition, Russell claims that saving money by monitoring energy use can be a way for small enterprises to improve their green credentials.

See also: How to find the best energy supplier for your small business

Recent research from revealed that 77 per cent of small firms believe changing energy suppliers will save them money, although just 43 per cent have done this.

Cost was discovered to be the most important factor when businesses choose a new energy provider, with concerns such as customer service and green issues becoming less important in the current economic climate.

The survey also found that the average small company pays more than £2,500 a year on electricity and faces gas bills of over £3,200.

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