Six in 10 small businesses could make easy savings by switching energy provider

New research commissioned by EDF Energy has found that a majority (60%) of UK small and medium sized businesses haven’t switched energy suppliers in the past three years or more, meaning they could save money on their energy bills by having better access to information and shopping around. The research found:

  • One in three small businesses don’t know where to start when looking for advice on energy switching, with one in 50 even turning to their hairdresser for advice.
  • Nearly one in three (29%) don’t know what percentage of annual outgoings goes on energy.


Small businesses are the lifeblood of the UK economy, generating nearly half of private sector turnover in the UK. Unfortunately, only six in 10 UK small businesses survive beyond five years[1].

Controlling business costs can often be key to survival and with nearly a third (29%) of business decision-makers not knowing how much of their annual outgoings relate to energy bills, this could be an easy place to start.

The research highlights a potential lack of interest and awareness on how managing energy effectively can help to reduce operating costs and suggests there is still more to do to engage small businesses.

Vincent de Rul, Business Sales Director at EDF Energy says:

“Small business owners are extremely busy people who have to juggle a wide variety of tasks to keep their businesses running smoothly. Energy might not be their biggest overhead compared to rent, mortgage, staff costs and business rates, so it can sometimes be overlooked.

“At EDF Energy, we’re working hard to support small businesses and giving them valuable insight into controlling their business costs through provision of clear advice, easy-to access products, or helping them choose the tariff that best suits their needs.”

EDF Energy has partnered with Small Business Advice Week (4 – 10 September) to advise and support all small businesses, not just their customers, on saving time and money when it comes to choosing their energy supplier and managing their energy consumption. 67% of EDF Energy’s business customers are on a fixed tariff.

 

[1] http://smallbusiness.co.uk/business-failure-four-ten-small-companies-dont-make-five-years-2533988/

5 September 2017