Why businesses don’t switch their energy supplier (but should)

Setting up a business can seem like the easy part when your focus is on sustaining and growing that business further. There are so many challenges and roadblocks that threaten to de-rail a business prematurely and one of those obstacles is energy prices.

Electricity and gas prices can be one of the biggest financial burdens for any company and yet many businesses do not choose to be more energy savvy.

So why are so many businesses reluctant to save money on energy bills?

Competition Markets Authority (CMA) figures published in March show that SMEs have been collectively overpaying £280 million annually for their energy and this is purely down to reluctance to shop around and switch provider.

The statistics are unbelievable considering how much there is to gain by making a switch within the energy market.

The most common reasons for not switching providers are as follows:

Contract is not due for renewal

Even if a business is tied to a contract for 12-18 months there is no harm in shopping around and preparing a new contract to start when the old one ends. It pays to be organised and plan ahead, plus it prevents any interruption to your service.

Worried about disruption of supply

Supply will not be stopped, it’s a simple as that. All energy companies use the same infrastructures so there will be no need to re-pipe or dig up anything, it’s just a case of switching providers.

The process of switching being too much hassle

Time is of the essence to businesses and many are off put by the thought of energy switching being too time consuming. When using SwitchMy the process is broken down into 3 simple steps and takes no longer than 10 minutes to complete.

There is no opportunity to save money

Often businesses come to the conclusion that there is no extra money that can be saved and that’s usually because they only look at the Big Six providers. Use a switch engine that integrates other smaller, yet just as reliable providers.

For more information on how you can cut your business’ electricity and gas bills, click here