One of major outlay for any business is the amount of energy it uses. Whether it’s electricity for lighting and equipment such as computers and printers or heating to keep staff warm in winter, keeping those costs down is important.
That applies whether you’re a small company with just a few staff or a large corporation.
SMEs generally have less capital and tighter margins than large companies, of course. Using an energy broker is often seen as the exclusive province of big businesses with sizeable office spaces. The truth is that an energy broker can benefit much smaller companies.
First of all, an energy broker doesn’t charge an upfront fee – the cost is built into the price of your contract and linked to the amount of energy you are likely to use.
Secondly, there are quite a lot of benefits any business, irrespective of size, gets by building a strong relationship with an experienced and reliable energy broker. Here are just a few:
- Switching Your Supplier
As with the domestic market, you should be switching supplier to get a cheaper deal when your contract is up. SMEs can get a raw deal with energy companies compared to large corporations though things have improved over the last couple of years with changes in legislation. Having an energy broker on board means you know when it’s the right time to switch and where to get the best deal.
- Improving Bottom Lines
Reducing your outlay when it comes to energy has the added advantage of boosting your bottom line. That means you have more money to spend on things like improving your business and growing it for the future. A broker will help you shop around for the best deal, one that suits your company and puts more money in your pocket.
- Contracts Can Be Complicated
In the business energy world, contracts can be pretty complicated. Understanding the various tariffs and contract types is bit of a minefield, especially if you are not familiar with the market. An energy broker should find a better match for your small business so you aren’t paying over the odds or trapped in contract that doesn’t work for you.
- Reducing Energy Usage
Brokers don’t just trawl the market and find you the best deal. They can also provide additional services such as advising on how to reduce your energy usage and save money that way. That might mean developing an energy usage policy or introducing smart meters to better measure how much fuel you are using.
Keeping your finger on the pulse when it comes to energy usage can be complicated and time consuming, especially if you are a small business with limited resources. According to Ofgem, over two thirds of businesses that have used an energy broker would recommend it to other companies. That goes for small businesses as well as large ones.
Building a long-term relationship with an energy broker is about making sure you always have the right utility contract in place. It also comes with additional benefits that can really help you reduce your outlay in this area. If you are an SME looking to improve it’s energy policy, it’s time to start exploring the potential that an energy broker can deliver.
Supplywise has the experience and expertise to get you on the right energy contract for your business needs.