Energy efficiency makes good business sense

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Energy efficiency makes good business sense now more than ever

In a time of political and economic uncertainty, business confidence is usually the first to take a hit. Small businesses in the UK are also set to be faced with more changes in the coming months, making it important for SMEs to be conscious about how money is spent.

It’s not yet clear how leaving the European Union will affect imports, exports and the value of the pound for trading; however, what is clear is that taking control of your energy consumption is one key step to ensure nothing goes to waste.

Following the Chancellor’s Spring budget statement, it was announced that business rates are set to increase as part of the most recent re-evaluation of rates by the government, which could impact on your resources. In areas where property value is high, rates are on track to mirror this – considering the last change to rates was made in 2010, it’s likely that rental values will increase in line with property value.

Every penny counts and according to energy efficiency experts, The Carbon Trust, businesses can easily save 20 to 30 per cent on energy costs by making behavioural changes such as switching off equipment and closing windows at the end of the day. A recent YouGov survey conducted by ScottishPower in partnership with The Carbon Trust also revealed that 60 per cent of SME business owners don’t regard energy efficiency as a key priority; these figures highlight the opportunity for SMEs to prioritise energy management and save money on their bottom line that can be invested elsewhere in the business.

Small changes make a big difference

It only takes a little time and effort to improve the energy efficiency practices in your organisation, and even the smallest changes made can make a real difference. Whether it's getting the whole organisation on board to start taking energy seriously, investing in smart meter technology or switching to online account management, ScottishPower is committed to offering hints, tips and advice to help businesses be more energy efficient.

Here are some hints and tips to kick off with:

  • Make use of online account management to easily keep track of your energy consumption.
  • Appoint an ‘energy champion’ for your business each month – someone who is responsible for ensuring lights are turned off in vacant rooms and at the end of the day.
  • Consider investing in innovative, cost-effective materials and technology such as LED lighting – although the initial spend may seem daunting, this can really pay off in the long run.

For further information on business rates visit: www.gov.uk/introduction-to-business-rates/revaluation