As a business owner, you may be very concerned with making sure that you are spending responsibly and getting the best prices for services. This includes your utilities. When you list everything you spend on utilities each month, you may find that energy and the internet are right at the top as the priciest services. These are vital services for your business, but that doesn’t mean you have to pay out the nose for them. If you are looking to save some money on your energy and internet bills, here are five strategies that may help.
Combine Providers
Did you know that some providers may offer multiple utility services? Choosing a provider who can provide you with some, if not all, of your utilities, has quite a few benefits. In addition to having fewer vendors to pay each month, you can track usage easier and may even be able to take advantage of a discount from bundling services. The provider also benefits from having a regular customer for more of their services. It’s truly a win-win situation. Contact your current provider and see if they can offer both business electricity & internet.
Outfit the Office
One way to save on your energy and internet usage is by looking right in your own office. Energy costs can be lowered by simple steps, such as turning off computers and other electronics at night after closing or switching incandescent light bulbs to LED ones. Turning off electronics outside of business hours will help ensure you’re not spending money when you’re not making any. LED bulbs not only last longer, but they’re often brighter and use far less energy than traditional bulbs. You can start seeing savings from these steps as soon as your next bill.
Consider Alternative Sources
Another way to help reduce your energy spending is to use a provider that utilises alternative energy sources. This may include energy sources such as wind, hydro, solar, and more. These renewable energy sources deliver the same reliability at sometimes just a fraction of the cost. You could invest in solar panels for your business if you own the building and are willing to spend the initial costs to purchase and install the panels. Otherwise, simply ask your provider if they source energy from renewable sources and how you can opt-in to the benefits.
Look at the Competition’s Rates
The chances are that your business is in an area with multiple utility and internet providers. If so, that’s good news for you. The competition between different providers often results in the best price for the customers. Don’t be afraid to call around and determine what plans and each provider offers prices. This will let you know if you are getting the best price or if it’s time to consider switching.
Sign a Contract
A fifth strategy to reduce your business’s spending on energy and the internet is to sign a long-term contract with a provider. Utility providers are in the business of recruiting and retaining customers. In order to do that, they may be willing to offer a reduced rate in exchange for a customer signing a long-term fixed-rate contract. If your business’s usage of energy and the internet is pretty predictable, signing a contract may be a viable option to let you save some extra dollars.
Evaluating finances is a big part of being a successful business owner. Ensuring that you’re paying the best available rate for utilities such as energy and internet is a good step in that process. Take the time to look into the different rates and plan options available in your area and take some steps to reduce your business’s overall usage. This will help you balance cost with performance and keep your business’s future looking bright.
5 Strategies for Lowering Your Business’s Energy and Internet Bills
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