Have you compared energy quotes in the last 12 months? If you haven’t, chances are that you’re paying too much for your energy. To keep your costs down, you should be reviewing your business energy supplier regularly.
Small businesses usually have a bad deal when it comes to business energy. One of the reasons why is that they tend to switch less frequently and are generally less engaged with the market.
The imbalance in price is costing small businesses around £180 million a year in the UK alone, according to the CMA. They cite a lack of price transparency and high exit fees as the main culprits.
Furthermore, small companies are being conned out of £2bn by rogue ‘energy brokers’ who lock them into long-term bad-value gas and electricity contracts, according to documents submitted to Ofgem.
Many energy market brokers promise the best energy deal for small businesses at no charge to their client but go on to offer poor-value deals picked exclusively from suppliers that offer the most lucrative terms for the brokers and go on to claim billions of pounds in commissions hidden in the inflated supply deals, many of which stretch over three to five years.
What should small businesses look for in their energy providers?
A competitive price
It goes without saying that any business hopes to find the most competitive rate possible for their energy.
You want a supplier you can rely on to be consistent, fair and honest. You want to be able to contact them easily if need be, but ultimately you hope everything will run smoothly without your involvement.
Small and microbusinesses are forever adapting, and they need a supplier that can adapt with them. For small but established businesses, this might mean a longer contract so they can guarantee they’ll keep their low rate for longer. For a new startup, this might mean a contract-free option so they’re not tied down.
How can you get the best energy rates for your small business and switch?
Businesses have the perception that switching is complicated or time-consuming.
Our new partners, Tickd have teamed up with the leading business energy providers to create a business switching process that takes less and two minutes, just like in your own homes.
From offices to landlord suppliers, Tickd can save businesses significant amounts of money for minimal effort. Not only can you get a more competitive energy rate, you can also choose the contract length right for your company, from one-year-fixed to long-term-fixed contracts. Looking to lower your carbon footprint? There are 100% renewable options as well.
Dedicated to delivering real change and a better service, Tickd are set on transforming energy switching and account services for small businesses by delivering a smooth and easy experience when it comes to sorting those ‘boring but necessary’ business admin tasks. Ethical and transparent, Tickd are completely open about how they make their money so you don’t have to worry about hidden commissions and inflated costs.
A letting agent in Manchester and an estate agent in Leeds switched their energy with Tickd and saved 21% and 14% respectively on their annual costs.
To find out more about Tickd and save money on your energy bills click HERE.