Business Switching Survey
- June 12, 2020
- Posted by: admin
- Category: News
A recent survey by the Federation of Small Businesses (www.fsb.org.uk) investigated energy behaviour across their membership, and highlighted the following facts:
- 62% say energy is a significant cost to their business.
- The top 3 factors for choosing their current tariff were;
- Price Stability (75%)
- Cheapest Possible Cost (65%)
- Minimal Effort/Time (47%)
- 30% used a TPI (.g. a broker) to identify their current tariff
- 12% used a price comparison website to identify their current tariff
In terms of switching between suppliers;
- 54% expect to switch when their current contract ends.
- 47% say a renewable tariff offer would encourage them to switch.
- 51% say better customer service would encourage them to switch.
These stats show the variability of behaviour across the participants – but it does indicate that;
- Energy & utilities are a significant cost to most businesses.
- Switching rates are quite low, with most switching being DIY by business owners.
- Price is key, but fixed prices that allows firms to budget is very important.
How we can help
Belbridge Energy can be your trusted partner in ensuring you get the best deal possible for your business. We can find the lowest prices, fixed or flexible rates, renewable energy and through the energy suppliers that rank the best for their customer service.
We use our knowledge and expertise, freeing up your time to run your business.