Is Your Business Spending too Much on Utilities?

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As a business owner, you will constantly be pouring over the books, looking for areas where you are spending too much, not saving enough, or not performing as well as you should be. Due to this, an area that is likely under the magnifying glass is utility bills.

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Water, gas, electricity, broadband, and telephone bills can quickly equate to a considerable number of outgoings on a monthly basis. The trick is knowing how to manage your utility bills, how to save on them, and how, if necessary, to switch.

Utility Expenses

As residential electricity usage soared in the United States in 2020, it is no wonder that business owners are looking for ways to reduce their consumption in the workplace. Of course, you cannot simply stop using water in the office kitchen or work in the dark, but there are certain measures you can take to lower your usage to some degree.

The first step to take is to assess your current usage. By keeping comprehensive and regular spreadsheets of your utility bills, you can track how they rise and fall throughout the months, giving you a better view of where or how you can begin to cut back. Be aware of general trends, for example, how electricity consumption tends to rise in the summer as offices require more air conditioning, as this will help explain your findings.

How to Save

Once you have mapped out your general consumption, look for ways to save.

For instance, if your water bills are higher than you think they should be, then look for ways to reduce how long taps are running. Placing signs above manual taps – or replacing them entirely with automatic faucets – should eradicate this issue.

In terms of electricity, being cost-effective with your lighting would make a huge difference. LED lightbulbs are known to lower energy bills while also being beneficial for the environment; installing these along with motion sensor light switches that ensure your office lights turn off at night would help massively.

Another way to save is to switch providers.

How to Switch

While you have control over how much water and energy your business uses, to some extent, you also have control over how much you pay for that consumption.

Comparing the prices of utility providers could well show you that there are cheaper options for you on the market. Using online comparison and switching sites, it is simple to compare the prices of business water and gas in order to make an informed change of supplier.

Conclusion

Utilities are a frustrating part of business. Spending money on staff, training, physical tools, and objects or raw materials is a tangible expense; having to pay for water and electricity is a less visible entity.

However, there is no way around it. Your business must pay for utilities, but you do have some control over how much those expenses equate to. Through energy-saving techniques and the ability to shop around for the best business utility rates, your business could start spending less and saving more.

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Is Your Business Spending too Much on Utilities?
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As a business owner, you will constantly be pouring over the books, looking for areas where you are spending too much, not saving enough, or not performing as well as you should be.
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