Smaller firms advised to find best utilities deals

News Article - Thursday, July 03, 2008

filed under: Business

As global energy prices continue to soar, small businesses are being urged to shop around carefully for the best possible utilities deals.

The Forum of Private Business (FPB) advises small and medium-sized enterprises (SMEs) to improve the way in which they are managing their finances by identifying and switching to cheaper utilities deals.

Some smaller firms are reportedly now paying twice as much as they were in 2007 for gas and electricity and one in five British SMEs are spending over ten per cent of their annual turnover on energy bills.

The FPB has an agreement with Utility Options to provide help for small businesses trying to identify the best possible utilities prices.

Colin Beake, Utility Options managing director, said: "Electricity and gas supplies are always on tap, so most business-owners make the excuse that they are too busy to get to grips with the problem, and push the action needed to the bottom of their to-do lists."

With costs for small businesses rising, firms can implement packages in order to identify potential savings and strengthen their financial management accounts software.

A recent study by accountants Ernst & Young indicated that some utilities bills could soar by up to 20 per cent in the future in order to meet with EU environmental targets.

Add to del.icio.us | Digg this story