What Do Further Energy Cost Rises Mean for SMEs?
With energy bills continuing to rise, SMEs are still faced with the challenge of maximizing profits and streamlining their costs amid tough economic times. Both gas and energy prices have shot past record highs which have been felt across homes across the country, but just how much do these price changes affect small businesses around the country?
Businesses are essentially affected in the same way as households are, meaning as the price cap increases, the higher the energy bill will be.
However, unlike domestic customers, businesses have a lot less protection when it comes to energy because regardless of the business’s size, the energy price cap does not apply to businesses.
How to Strategically Tackle Rising Office Energy Bills
Running a business can be expensive and expenses can quickly add up, so cutting down on your overall energy usage is a great way to combat the rising energy costs. Here are a few ways you can reduce your business’s energy usage:
- Switch off appliances that aren’t in use
Whilst in standby mode, appliances can still use up to 50% of the electricity they would when in operation. So, ensure they are kept off when not in use.
- 2. Use energy-efficient light bulbs
Replace old incandescent light bulbs with energy-efficient ones. LEDs can help save you as much as 80% on electricity.
- Switch everything off at night
Make sure you switch off appliances like vending and coffee machines, these will waste energy if left on overnight.
- Upgrade appliances
Look into upgrading older appliances for new, more energy-efficient models as this will have a significant impact on the amount it will cost you a year.
- Share the brew
Instead of individual tea runs, make the most of your kettle’s capacity and offer to make a brew for your colleagues. The cost of making a cuppa may seem insignificant, but you could save a pretty penny each year when you use your office kettle effectively.
Why Offices Spaces Are Still Important for Businesses
As remote work roles increase and more and more employers adopt a hybrid working system, some may question if investing in a dedicated office space is necessary for businesses of today.
If anything, the COVID-19 pandemic showed how important it is for businesses to be agile and able to work in challenging and changing times. During the COVID outbreak, businesses were forced to close the doors to their offices and switch to running their operations and workflow remotely. This change has ultimately imprinted a shift in the way people work and the ways businesses utilise their office space.
It’s clear that remote working has come with both its positives and its drawbacks, so let’s explore some of the reasons why having a dedicated office space is beneficial.
- Offices help promote the company culture and connect people
- Offices separate work and home life
- Working from the office makes quality assurance and productivity management easier
- Offices encourage collaboration
- Offices help promote professional development
Offices provide a central hub for people to work and collaborate on tasks and projects in an environment that allows them to separate from the challenges of home life by being connected with their co-workers and submerging into their company culture.
Is It Time for You to Invest in Your Office Space?
Finance for renewable energy tech
Making simple changes to how you manage your energy consumption in the office will make a difference to your energy bill, but how much of an impact will investing in how you use energy make?
Investing in solar panels for your business would have a significant impact on the business’ overall environmental footprint, and would play a part in saving you money each year.
Here are a few things you should know about commercial solar panels for businesses:
- Over the 25-year lifetime of solar panels, you’ll have saved thousands of pounds on energy.
- Energy from commercial solar PV will cost a fraction of what you were paying from a utility company.
- Solar panel maintenance cost in the UK is relatively low, so you’ll be able to enjoy reduced overall expenses for your electricity consumption.
- Reduce your dependence on imported energy and finite resources.
Similarly, investing in switching to LED lighting will prove to be an investment that is well worth it in the long run. Commercial LED lighting has a lot to offer your office space, here are some of the benefits you can expect:
- Reduction in energy use – LED lights can reduce your energy consumption anywhere from 50-90%, which can equate to huge savings on your utility bill.
- Longer-lasting – LED lights have a long lifespan and can provide up to 50,000 hours of use.
- Increased light quality – LED bulbs come in a variety of styles and colours that give you more control and flexibility over your interior lighting design.
Solar panels and LED fittings can both come with upfront, installation, and maintenance costs, which can add up to a high initial investment. However, by financing these assets, you’ll be able to secure and finance your solar panels and LED lights, and spread the costs of investment which will allow you to reap the cost-saving benefits faster than you would by buying them outright.
Finance for office fit-out projects
Whether you’re looking to update the layout of your office to adopt a hotdesking style of work, or you’re looking to refurbish, and kit-out cubicles for your office, now is the time to invest.
Financing your office workspace project would allow you to retain capital that can be utilised somewhere else in the business. This is great for those looking to invest in redoing their workspaces because fit-out projects can be expensive, so, financing your office renovation would provide you with a way of paying the cost of your project with regular fixed payments each month.
If you’re interested in finding out more about how we can support you with financing your office interiors or renewables projects, get in touch with us at firstname.lastname@example.org, or give us a call on 01924 248 800, we’d be more than happy to help with any of your financing needs.