According to a new report by British Gas Business, the average business spends as much as £1 in every £2 of their electricity bill after office hours have ended.

Are you guilty of wasting energy after hours? Image by Tomé Jorge via Flickr

British Gas Business looked at data from over 6,000 smart meters and found that 46% of business electricity is used before 8am or after 6pm.

The average business energy bill is around £2300* - so that means that businesses could be wasting in excess of £1000 when there’s no one in the office.

Obviously when the office is shut, you’ll still need to use some energy - for example to keep essential equipment or appliances running -  but there could be plenty of small changes you could make to cut down the wastage. For example, are computers, printers and photcopiers left switched on or on standby? Do you leave vending machines or coffee machines running? Do you light your car park at the weekend? Do you leave display lighting on even when your shop is closed?

This piece of research was released to tie-in with the launch of British Gas Business’s new product: Business Energy Insight.

With Business Energy Insight, you can get a free smart meter and free access to an online dashboard which will give you lots of data about how much electricity you’re using and when you’re using it. This can provide you with lots of information and ideas for ways you can cut your energy usage; for example, if your energy consumption stays high even after the office has shut. I'll paint you a picture: it's 8pm, you're at home, and you log-in to your online dashboard and see that energy consumption at the office is higher than it should be. You probably won't rush down there to find out why, but the next day you can find out what it was, and take action to make sure it doesn't happen again.

Read more about getting Business Energy Insight and a free smart meter from British Gas Business or call our energy advisors on 0800 688 8568 for more information.

*uSwitchforBusiness data

Get a free smart meter and free access to the Business Energy Insight online dashboard with British Gas Business.

Is it time to upgrade that old electricity meter? Image by awoodvine via Flickr

We have a special offer from British Gas Business - when you switch your business electricity via uSwitchforBusiness you can get a free smart meter and free access to the Business Energy Insight online dashboard.  We estimate that the smart meter would usually cost £300, and access to the dashboard would be around £500 a year, so this deal can give you a great saving.

The smart meter and dashboard themselves can help you save money too; with the dashboard you’ll have access to lots of data about your electricity usage, so you can identify areas where you’re wasting energy and ways to cut back. Plus, with a smart meter, you’ll only ever pay for the energy you actually use, which can really help your cashflow. (Find out more about smart meters.) You also get a dedicated account manager who can provide you with advice about energy efficiency.

If you’re interested, or want to find out more about his deal and whether or not it’s right for your business, give our energy advisors a call on 0800 688 8568.

Most small businesses will need a loan at some point, it’s rare for someone starting a business to have all the capital they need to get up and running, or to pay for expansion further down the line. Getting the right finance can be a make or break issue for some businesses, so here are some tips to help you find the right loan.

Image by jferzoco via Flickr.

Small business loans: a checklist

When you come to a point where you need a loan for your small business, use this checklist to help make sure you get the right one:

• Know how much you want to borrow and for how long. Really think about how much you need to borrow to get your business where you want it to be. Think realistically about what you can repay and what period you can repay it over. Remember that if you borrow too little and have to change the loan agreement later on to borrow more, there may be charges.

• Bring your business plan. Your business plan will be really useful for showing what you’ll use the money for and how you’ll be able to repay it. (Don’t have one? Find out about business plans and forecasting.)

• Do your homework. It’s essential that you shop around if you want to make sure you’re getting the best deal. (But of course we’d say that - comparing prices is in our nature!)

• Be bold and negotiate. Do your research and make sure you know what’s available on the market. The lender is likely to give you a better offer if they know you’ve found other deals. Don't forget to negotiate over terms and fees as well as the interest rate.

• Always read the small print.

• Choose your security carefully. The lender will ask you you to nominate assets as security in case you’re unable to repay your loan. Avoid using your home as security at all costs.

Other options for small business loans

Many people think that they have to get a small business loan from their bank, but that’s not necessarily the case. There are plenty of different places you can go for finance, which is good news, because it means you’ve got a better chance of finding a loan that will fit you and your business.

One alternative to a traditional loan provider is peer-to-peer lending, where people with money to invest lend their money to businesses that need a loan. Businesses like Funding Circle act as an intermediary and put potential lenders in contact with potential borrowers. Sound interesting? We’ll be back with with more information about peer-to-peer lending networks like Funding Circle in the next few weeks.

See last week's business skills post on tax and VAT.

Is it a bird? Is it a plane? No, it’s Chris Huhne driving past in his car. Whoops, sorry, my mistake, I think it was his wife. Or was I right the first time?

This photo opportunity doesn't seem like such a good idea now...Image by DECCgovuk via Flickr

The path of a political figurehead never runs smooth, especially when one is charged with perverting the course of justice. Yes, I’m referring to the news that Chris Huhne the Liberal Democrat MP and (ex) Energy Secretary has resigned his cabinet post. The well-publicised reason for his resignation is the allegation that in 2003 he persuaded his then wife to take three points on her driving license for a speeding offence.

Now as interesting as the charges against Mr Huhne are, that is not the main purpose of this blog post. We are, after all, an energy broker, so the real issue is the credentials and background of the new Energy Secretary, Ed Davey.

So who is Ed Davey?

Edward Jonathan Davey has a degree in Philosophy, Politics and Economics from Oxford and has been in parliament since 1997, when he defeated the Tory MP Richard Tracey in the constituency of Surbiton. Under the coalition, Davey was appointed Parliamentary Under Secretary of State in the Department for Business, Innovation and Skills (BIS) with responsibility for Employment Relations, Consumer and Postal Affairs.

Davey has a reputation for falling on the green side of the spectrum; he campaigned on environmental issue at university and his voting record shows support for new laws to tackle climate change. 

We will watch developments over the next few months with interest to see if there is a particular change in energy policy as result of the change in personnel, but the reality is that both Huhne and Davey are Lib Dems through and through and very little is likely change.