For many small businesses across the UK this year, to say these have been trying times is something of an understatement. Trying to keep costs as a minimum is extremely important. One area that is very easy to curb spending on is water bills as long as you know what to look out for.
Many businesses take their water bills for granted. If you’re the type of person whose only correspondence with your water supplier is opening the latest bill in the post, you’re not making the most from the water you’re paying for.
With the UK having a free market for businesses to pick and choose their preferred water supplier, it helps if you know when to start looking for a new supplier. In this short article, I want to highlight key moments you should look out for if you’re in charge of water billings and how moving to a new supplier should work in your favour.
Knowing your area
Let’s start with the basics. Even though the UK has an open market, many businesses are lumped in with a specific provider they will have inherited from 2017 (this was when the market opened). At the time, the company looking after the local area will have been matched with a specific provider. Through no fault of their own, businesses just haven’t had the foresight to take a step back and look around at what’s out there.
There are water suppliers the length and breadth of the UK you can choose from, and with the competition between water retailers being so high, you can use that to your advantage. I recommend phoning different suppliers and asking them they can give you (out with your tariff) to make you their customer.
Knowing not to get caught out
Changing your water supplier is much simpler than you think. With it merely being a change of supplier and not the actual supply, it won’t affect your water at all. If your current retailer claims as such they’re simply not telling you the truth.
I would also recommend finding, or asking for, the contract from your current provider. It will be the case that your business is on a fixed-year (usually no more than 5) or monthly rolling contract. Think of it the same way you would for a mobile phone contract. It should state how much notice you need to give to leave. It will usually be 30 days from your intention. Even if you’re phoned around and got a great deal waiting, double-check you won’t be charged any fees for trying to leave early. And double-check if there’s credit in your account that can go towards your final bill. So many businesses fail to do this.
Knowing that the supplier takes care of things
Any reputable water retailer will look after a switch for you. If they say it’s up to you to do the paperwork and smooth things for them, you’re already in a bad deal. Any supplier looking for your business will want to take care of everything behind the scenes, so the only thing you have to worry about is getting on with running things.
The deregulation of the market has meant the better water retailers stand out due to customer service, i.e. they work hard to take and keep your custom. I recommend having a look online for reviews from customers to get an idea of how involved they’ll be with a switch and what they’re like to work with.
Get more advice to keep costs down
Thanks for reading, and I hope you now have a basic idea of when to start looking for a new water supplier.
Are you looking for more tips to help your business save money? Make sure you check out the money section of the site. Recent articles have covered topics such as ways for small businesses to save money.