Your business could be £1,500 better off by ‘hitting the switch’

New research shows 30% of the UK's small firms haven't switched electricity or gas supplier over the past five years

The UK’s small firms have lost out on £2.4bn over the past five years – a loss of almost £1,500 per business – by failing to switch gas or electricity supplier, research from Love Energy Savings reports.

The study found that 30% of the country’s 5.4 million small and medium-sized business haven’t changed supplier or their tariff since 2011, while only 47% of small business owners have looked into the possibility of switching in the last 12 months.

According to the report, by changing supplier businesses typically get the opportunity to save an average of 40% on gas and electricity bills.

Phil Foster, Love Energy Savings managing director, said of the findings:

 “We’re amazed that so many of Britain’s small business owners and managers are still missing out on the opportunities that exist to cut their energy bills.

“That is money which could make a real difference to a company’s future. It is cash that could be invested into growth and employment, instead of going out of the business unnecessarily.”

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