Originally written by Dan Matthews on Small Business
Ask most people what they think is the biggest cost a business faces and they’ll tell you its salaries. But what about small businesses with perhaps just one or two staff members, or even sole traders with no employees at all?
According to official government data, of the six million UK business currently trading just 1.1 million are employers. The rest are operated by their owners, who usually pay themselves through company profits instead of via a salary.
In fact, for the vast majority of UK businesses, the biggest annual business expenses are much more likely to be tax liabilities and energy usage.
Research from Smart Energy GB, published in August, revealed that small businesses had on average around nine weeks of cash reserves before they would have to shut their doors. That’s despite more than half, or 56 per cent, admitting they would have greater control over their expenditure if they understood the business’ energy use more clearly.
If you are one of the 56 per cent, then it could be time to revisit your cost base and implement a new strategy. Tracking your spend is a vital component of healthy cashflow, which in turn is

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Originally written by Lawrence Gosling on Small Business
While small businesses can only do so much to encourage more customers during the lockdown what they can do is look at their businesses cash flow and manage it more efficiently.
In a survey back in July 2020, worried small business owners including retailers, hairdressers and builders estimated they had an average of just NINE weeks left before they would be forced to stop trading.
Thankfully many made it through this period and started trading again, but the challenges remain with the second national lockdown in England, and similar versions affecting businesses in Scotland and Wales.
Research by Smart Energy GB, which surveyed the owners of 1,000 businesses of firms with less than 10 employees, revealed the biggest concerns for owners are a lack of customers, cash flow issues and that consumer confidence won’t return quickly enough.
Michelle Ovens MBE, Founder of Small Business Britain, created money saving tips which include embracing new technologies such as smart meters, which help you to identify ways to reduce your energy consumption and therefore save money.
In the research, 56% agreed having a better understanding of their energy use would give them greater control over their business expenditure. Energy is the

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