Tag Archive for smart meter

Business expenses: don’t guess if you don’t know the answer

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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How to manage your businesses cash flow more efficiently

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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Frequently asked questions about smart meters for small businesses

Originally written by Lawrence Gosling on Small Business
1.What is a smart meter?
Answer: A smart meter is the new generation of energy meters for the supply of gas and electricity, which are being rolled out around the whole of the Great Britain.
2. What do smart meters actually do?
Answer: Your smart meter measures how much gas and electricity you use and securely shares this directly with your energy supplier at least once a month. You won’t have to take any meter readings manually — your smart meter will send automatic readings to your energy supplier via the secure smart data network which is solely for smart meters. This works in a similar way as other wireless systems but does not use the internet.
3. Why do I need to accurately measure energy use in this way?
Answer: Knowing exactly how much gas and electricity your business has used allows you to know exactly how much you need to pay to your energy supplier. This means rather than paying for your energy on an estimated basis , you can pay the precise amount. This helps with any business’ cash flow, which is obviously very important during a challenging time such as Covid 19.
4. Do all

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Upgrade to a smart meter and enjoy a smarter future

Originally written by Partner Content on Small Business
Smart meters are being installed in small businesses across Britain. A smart meter can give you the information you need to better manage your energy usage, helping you to manage your budgets and even save your business money.
If you have fewer than 10 employees you may be eligible to upgrade to a smart meter now.
This includes small businesses with separate business premises, and those based at home which use a separate gas or electricity meter for their business.
If you currently have a shared meter in your business space, ask your landlord about getting a smart meter for your building.
When it’s time for your installation, your energy supplier will work with you to find a time that’s convenient for you both. They may even offer installations on a Saturday, or in the evening, to minimise disruption to your business.
Most suppliers will provide your new meter at no extra cost, but contact your supplier today to find out more about what they are offering.
Upgrade to a smart meter and soon your business will be enjoying a smarter future.
Further reading
8 ways to save money running your microbusiness
Upgrade to a smart meter and enjoy a smarter future

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