5 ways to reduce your business energy bills
17 November 2022
Rising global energy prices are a worry for all business owners. When the cost of your predicted annual bill goes up, that’s likely to stretch your cash flow thin.
So, what can you do to overcome the problem of rising electricity and gas prices? We’ve outlined five simple ways to reduce your energy bills.
Simple ways to reduce the impact of the energy crisis
The obvious way to beat the energy crisis is to reduce your company’s energy usage.
With prices going up, cutting your energy consumption makes good sense and should help reduce your annual bill. As an added bonus, cutting down your energy consumption also makes your business more sustainable, more energy-conscious, and a better global citizen.
Here are five ideas for bringing down your energy usage:
- Properly insulate your buildings – you obviously need to be sensible about heating and cooling your workspaces during the hot or cold months of the year. Using heating and air conditioning (air-con) 24/7 can be expensive, so it’s a good move to properly insulate your workspaces. If your rooms stay warmer in winter, and don’t bake in summer, your heating/air-con won’t be working so hard – reducing your energy spend.
- Be sensible with your lighting – lighting is another essential overhead, but also an area where smart gains can be made. Use energy-efficient light bulbs that draw less power. Don’t leave exterior lights on after business hours. And fit sensors in offices, meeting rooms, and workshop spaces that turn off the lights if no-one is using the room. These are small actions that can quickly start to cut down your bill.
- Switch to energy-efficient equipment and technology – the business tech we use is gradually becoming greener and more energy-efficient. Review your company’s main electrical equipment and see how much energy could be saved by moving to updated, energy-efficient tech. With so many pieces of equipment always plugged in and turned on, having tech with low-power modes and automatic standby modes can greatly reduce your energy consumption as a busy office or factory.
- Consider using renewable energy – one way to escape the monopoly of your energy provider is to provide your own off-grid power. Climate change is an ever-growing problem, so switching to renewable energy not only gives you an independent power supply but also reduces your carbon footprint. If you are looking at solar, think about how much power you consume, and when you consume it, to understand the return on your investment.
- Shop around for the most affordable energy provider – finding the most cost-effective energy supplier can go a long way to bringing down your bills. Prices are obviously rising across the sector, but check out what deals are being offered by other energy providers and shop around. Consumer's Powerswitch website offers a useful comparison tool, but it's worth noting, that not all retailers participate. You'll also find lots of tips on this website.
Energy prices are likely to remain unstable for some time, so it’s important to keep a close eye on your energy overheads and their overall impact on your finances.
It's that time again and Moving Day is upon. Moving Day' is a big day in the farming industry. To help you with a smooth transition here are some tips: Early preparation Make sure sharemilker or contract milker contracts are signed. Plan a farm inspection with relevant parties (farm owner, incoming and outgoing sharemilkers, farm manager, advisor). Recruit and finalise employment agreements for new farm staff. Communicate plans and dates with everyone involved. Contact your insurer and utility providers. Farm owner responsibilities Make sure employees leave the houses clean and tidy. Carry out house inspections for maintenance. Comply with healthy home standards. Confirm departure and arrival times with tenants. Consider drug testing, if needed. Animal movements and biosecurity Plan animal movements carefully. Clean and disinfect farm equipment and machinery. Minimise the risk of introducing exotic pests. About 5,000 farmers do this every year. Talking clearly and planning well makes this important farming tradition go smoothly.
Selling your business is a huge milestone—one that marks the culmination of years of hard work, dedication, and vision. But once the deal is done and the dust settles, you may find yourself wondering, “What’s next?” Exiting your business opens up a world of possibilities. Here are five potential pathways to consider as you embark on this new chapter of your life. 1. Enjoy Retirement For many, selling a business is the gateway to retirement. After years of being immersed in the day-to-day demands of running a company, retirement offers the opportunity to slow down and enjoy life at your own pace. Whether it’s traveling, spending time with family, or taking up new hobbies, retirement allows you to focus on the things that bring you joy. Planning ahead—both financially and emotionally—will ensure you make the most of this well-earned time. 2. Invest in Other Businesses Selling your business doesn’t mean stepping away from the business world entirely. Many people choose to invest in other businesses, whether it’s through buying equity, becoming a silent partner, or supporting start-ups. Your years of experience give you a unique perspective, and investing allows you to stay connected to the business community while diversifying your income streams. 3. Start a New Venture Once an entrepreneur, always an entrepreneur! If you have a new idea or are passionate about exploring a different industry, selling your business can provide the resources and freedom to start fresh. Whether it’s launching a tech start-up, opening a café, or pursuing an entirely new market, starting a new venture keeps your entrepreneurial spirit alive. 4. Become a Non-Executive Director Another pathway is to leverage your expertise and become a non-executive director. Many businesses value the insight and guidance of experienced business people. As a non-executive director, you can provide strategic advice, mentor leadership teams, and help shape the future of other companies—all without the full-time commitment of running a business. 5. Pursue Philanthropy For some, selling a business is an opportunity to give back. You might choose to support causes you care about through charitable donations, creating a foundation, or volunteering your time. Philanthropy not only helps make a difference in your community or the wider world but can also provide a deep sense of fulfilment and purpose in your post-business life. Charting Your New Path Exiting your business is both an ending and a beginning. It’s a chance to reflect on everything you’ve achieved and to embrace new opportunities that align with your goals and passions. Whether you’re ready to relax and retire, dive into new ventures, or make a positive impact through philanthropy, the choice is yours. Whatever path you choose, careful planning will help ensure your next chapter is as rewarding and successful as the one you’ve just completed. If you’d like support in exploring your options or preparing for life after your business, don’t hesitate to reach out us for guidance.
Cybercriminals are constantly finding new ways to trick businesses, and their scams are harder than ever to spot. Small businesses are especially at risk, often seen as easy targets due to limited resources or weaker security. But with the right precautions, you can protect your business and prove the scammers wrong. Be Aware of New Threats Staying informed is your best defence. Here are some of the latest cyber threats: AI-Powered Scams : Scammers now use artificial intelligence to create convincing phishing emails and fake websites that are difficult to distinguish from the real thing. Impersonation Attacks : Posing as banks, government agencies, or suppliers, attackers aim to trick you into sharing sensitive information. Deepfake Technology : Fake audio and video messages that mimic trusted sources are becoming more sophisticated and harder to detect. Train Your Team Educating your team is crucial. Teach them to: Spot warning signs, like urgent requests to act quickly. Double-check email addresses and URLs before clicking on links. Be cautious with unusual requests, even if they seem legitimate. Regular training sessions and phishing simulations can help your staff stay alert and recognise scams before they cause harm. Protect Your Business Basic but effective security measures can go a long way. For example: Enable two-factor authentication to secure your accounts. Keep your software and systems up to date. Use resources like the Business Online Security Series for practical cybersecurity tips. It's also wise to consult with your IT provider to evaluate your business’s vulnerabilities and develop a cybersecurity training plan for your team. Taking action now can save your business from potential threats while safeguarding your reputation. Stay informed, train your team, and strengthen your defences!
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