When you move into new premises as a start-up it's
important to keep an eye on all the costs and make sure you're not
overcharged. As Jonathan Elliott, the managing director of
money-saving expert for business Make It Cheaper, explains energy is an area
that needs special attention.
This week enterprise campaign StartUp Britain announced plans to
open empty shops and help new retailers to get their products onto
high streets. Every retailer that signs up will take a space in the
shop for a two-week period, during which they benefit from a
bustling high street's footfall and get to sell their products
to a new and inquisitive audience. The flagship store is set to
open in Richmond, Surrey over the coming weeks.
Retailers will be required to pay £135 towards the rent, but to
sweeten the deal they will have an opportunity to pitch their
products to John Lewis, which clearly has the potential to take
their business to a new level.
If you're thinking of taking part, here's a tip: make sure you
sort yourself out with a mobile chip-and-pin machine. High street
shoppers will expect to be able to pay by card, so having the right
technology in place could be the difference between an expression
of interest and an actual sale. Make It Cheaper can help you get
favourable rates on hardware and transactions that will minimise
the provider's share of your revenue.
This new scheme forms part of the government's wider initiative
to invigorate the retail environment in Britain's town centres
following Mary Portas's formal review of high streets in December
last year. More generally, the willingness is clearly there to give
small businesses a fighting chance in testing economic conditions,
as evidenced earlier this year when plans were announced to make
empty government office spaces - made vacant after what the press
dubbed the 'bonfire of the quangos' - available to start-ups at a
low cost. With extra incentives such as grants, loans and mentoring
schemes all in place, it seems a good time to go into business.
If you're someone who is taking the plunge, something to be
aware of is your vulnerability to exorbitant energy bills in your
new office or retail space. You will inherit the previous tenant's
supplier and it is likely they will charge you out-of-contract
rates that are typically double the amount of the cheapest deals
available. Your inertia is the supplier's biggest win in this
scenario - but second prize is your angry phone call because at
least this represents some level of customer engagement. The
supplier then has a chance to pitch less objectionable rates and a
longer-term commitment.
That's unless you've already fallen victim to an opportunistic
broker who has bought data that shows you are new to the building
and who may use underhand tactics to trick you into long-term
energy contracts on commission-inflated rates. This is where Make
It Cheaper's commitment to impartiality and integrity comes to the
fore. We can use our buying power and knowledge of the market to
find new tenants on out-of-contract rates a great deal on their
energy supply - leaving them to focus on the more exciting aspects
of their new business venture.
In association with
See how much you could cut off your utility bills by calling
Make It Cheaper for a free consultation. It only takes minutes but
could save your business thousands. Click here for more
information.