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4 Mar 2024

The British Book Awards has announced its shortlist for Independent Bookshop of the Year. 

4 Mar 2024

The ACT is happy to confirm the date for Local Bike Shop Day 2024 as Saturday 4 May, the weekend of the early May Bank Holiday.

4 Mar 2024

Research by global fintech company SumUp has revealed the best cities in the UK for independent businesses.

21 Feb 2024

The latest quarterly State of the Industry survey from the National Hair & Beauty Federation (NHBF) shows that the recovery of the sector was slow and steady through 2023 and into January...

21 Feb 2024

The UK has voted for its favourite pun-based shop name, and 'Sew It Seams' - a clothing alteration store in Belfast - has been awarded the top spot. 

21 Feb 2024

Businesses in the Devon town of Ottery St Mary have praised their local council for initiatives designed to help support them and boost trade.

19 Feb 2024

A new ranking of the most popular independent coffee shops in the world has put three UK cafes in the top 10.

19 Feb 2024

Older people could be the financial shot in the arm needed for Britain’s high street, according to research commissioned by the University of Stirling. 

8 Feb 2024

The ACS (the Association of Convenience Stores) has celebrated the crucial role that rural shops play in thousands of communities across the UK in its 2024 Rural Shop Report.

8 Feb 2024

New research reveals that Apple Pay and contactless payments have overtaken cash payments by a landslide as our favourite ways to pay in-store.

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Smaller businesses paying 50% more for electricity

Posted on in Business News , Cycles News , Creative News, Outdoor News

Average electricity prices are around 50% higher for very small businesses than for larger businesses, says Ofgem report.

The Ofgem's new State of the Energy Markets report has revealed that smaller businesses in the UK are facing bigger energy bills than larger ones.

It suggests retail markets "typically work well" for larger businesses but small and micro businesses pay much more on average. That's because larger business customers can often negotiate good deals with suppliers compared to smaller firms, which don't switch frequently.

More than half (58%) of businesses say they have never switched suppliers or have switched only once. Because of this, around 60% of customers are on poor value deals, which can be around £300 more expensive each year than the cheapest fixed term deals, although Ofgem says the number is falling.

The Ofgem report states energy bills have fallen since their peak in 2013 but are higher than they were 10 years ago. The average dual fuel bill for a customer of the Big Six was £1,123 last year - 16% lower compared to three years ago. However, this year all of the largest suppliers increased prices.

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Every business is eligible to receive a free of charge, independent review of the energy market to see how much they could save.

One subscriber recently saved £750 a year on their new energy contract with LSI - see how much you could save, get a free quote today!

 

 

 

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