What concerns small business owners?

What keeps you awake at night?

As an owner, director or senior member of staff in your organisation, what causes you the most headaches?

The Citizens Advice Bureau asked over 2000 small business owners from manufacturing, transport, retail, services, and distribution industries in England, Scotland, Wales and Northern Ireland what their biggest concerns were:

46% replied that they were concerned with the cost of electricity

43% were concerned with Tax, VAT, PAYE and National Insurance

36% were concerned with cash-flow and working capital

32% were concerned with having a lack of customers

Staggeringly more business owners were concerned about the cost of their electricity than whether they had sufficient cash-flow or customers to continue to operate.

For most business owners energy is a fixed cost, yet there are things that you can do to work the market to your advantage. The Citizens Advice Bureau dug deeper into whether business owners were helping themselves by shopping around for the best deals.

Shopping around

You understand the value of shopping around for the best deal. It’s unlikely that you’d buy the first thing you saw, or accept the first quote you are presented with. Yet when it comes to energy only 71% of business owners bothered to seek out the most competitive rates.

That’s 3 in every 10 business owners happy to pay whatever their energy supplier tells them, whether they’re in a contract or not.

We know that energy isn’t exciting, and that you have a hundred more productive things to concentrate on, but if you don’t shop around you could be throwing money away. This is particularly prevalent when a business moves in to a new premises, with over half of business owners accepting the status quo and staying with the incumbent supplier.

We can help:

We work with 26 energy suppliers and utilise cutting-edge technology to compare the market, retrieving prices from all suppliers that are interested in providing your business power. Don’t waste your valuable time on the phone to each supplier, or scouring the internet, we can obtain this information for you in a matter of moments.

Our recommendations are based on more than just price. We consider your businesses needs and review over 10 other factors when advising you. We go further and show our commission so you can be confident that you’re getting the best deal for your business.

The Bureau then looked into whether business owners were satisfied with their supplier, and whether they used an energy broker.

Problems

You’re experts in your own field and run successful businesses on the back of knowing your product, service and market inside out. Energy should be the least of your concerns; you should be able to flick a switch and the power comes on, and at the end of the month you’re billed for your usage at a fair price.

Sadly things can, and do, go wrong and it’s left to you or one of your employees to resolve the problem with the energy supplier.

You’ll need to contend with waiting times of up to 17 minutes to speak to a human, and, with 34% of business owners admitting that energy tariffs and bills are difficult to understand, you’re likely at a disadvantage before you even start to take on the supplier.

Nearly 1 in 10 small businesses experienced problems with their energy supply in a 12 month period, with a third of those businesses being dissatisfied with how their complaint was handled, and the outcome.

We can help:

We work to resolve all problems and complaints relating to any contract you place through us, free of charge. We stand by our contract, so if something isn’t working for you as it should, we will engage with the supplier on your behalf and resolve the issue for no extra cost.

We have extensive experience in how energy suppliers handle complaints and the regulations and procedures they must follow. We leverage this knowledge to assist us in achieving the best outcome for you.

49% of businesses complained due to high prices, with 12% having problems switching supplier. This is our bread and butter. We’ll scour the market to identify a competitive rate for you, and ensure that when you are able to switch supplier, we manage the process for you. In some cases we can secure contracts up to a year in advance, so even if you’re tied in we may be able to help.

What to do

Call us today on 07887 757589 or email ryan@ryproenergy.com and we’ll arrange a short appointment to review your energy needs and begin finding you the most competitive deals.

If you’d like more information on what we do check our our website www.ryproenergy.com

Sources

Which? magazine – Energy Supplier Customer Service Rated

Citizens Advice Bureau – The Concerns of Small Business Owners as Consumers in Regulated Markets

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