There are many expenses related to the day to day operation of a business. Business power costs are a substantial amount of these expenses, often eating into profit margins and causing financial strain. However, there are many steps which you can take to effectively reduce your monthly business power costs.
The first step to saving on business power is to have a thorough understanding of the business power prices in your area. Second, discover what other businesses, similar to yours, are doing to keep such costs under control. You should also be prepared to take corrective steps to stop the overuse of electricity in your business. Here are a few examples:
- Switching light bulbs in your business to Compact Fluorescent Light (CFL) bulbs can save up to 75% of energy.
- Encourage the use of natural lighting, where possible
- LEDs are becoming a popular solution, however their individual cost is more expensive than (CFLs)
- Electricity wastage is common in the workplaces. Forge an employee wide agreement to ensure that appliances and devices are turned off when not in use.
To further increase your profit margin you need to ensure that you are getting the best offer from your energy provider. In today’s post carbon price market, there are many discounts and incentives available to help you save on your business power costs. Speak to an energy broker today to discover what better deals are available to help you save.
Remember; when it comes to increasing profit margins through business power costs, there is no need to reinvent the wheel. Simply learn from others and follow their best practices. However, be prepared to invest some money upfront. When bills are getting on top of you this can be a daunting prospect. Especially in small to medium business enterprises; where every cent counts. If you are unsure on what measures are best for you, speak to an energy broker for more advice; rest assured, your profit margin will thank you.