Running a small business is hard. There is a huge list of tedious management jobs you will have to do to run things day-to-day that keep you from the thing you love and the reason you started the business in the first place. Paying huge bills adds to this woe. We are getting used to seeing press explaining how our personal bills are on the increase but does this need to apply to our business energy rates as well?
Swapping your business energy can be a painful and boring experience but it can save you significant amounts of money. The number one tip on any money saving website is to switch suppliers. Anyone who has started a new business premises knows that they can be bombarded by cold calling from energy companies but how on earth do you know what charge is appropriate and how do they calculate the charges in the first place?
Did you know that energy prices have 2 components:
a) energy company charges;
b) broker charges.
Broker charges are hidden inside energy company charges. Energy companies charge as much as they can to customers who do not switch. Can we mention the ofgem safeguard cap or does that only apply to home and not business
Brokers have sweetheart deals with energy companies with hidden commissions. Small business owners are paying for all of the above – the broker charges, the energy company charges and the hidden commission.