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The gig economy is showing no signs of slowing down and micro businesses are thriving, with 76% of UK businesses employing nobody aside from the owner.
If you’re one of the many who has started a business from home, you may have wondered about if you’re eligible for a business energy contract. In this guide, we tell you all you need to know:
If you are a sole trader and you work from home you may well be eligible for business energy. Additionally, you’ll probably meet the definition of a microbusiness, meaning you’ll be eligible for greater protection than larger businesses.
Use less than 200,000 kWh of gas or 55,000 kWh of electricity a year,
Have fewer than ten employees (or their full-time equivalent)
An annual turnover or annual balance sheet total of €2m or less.
Business energy is different from domestic energy in a number of ways:
To switch to a business energy contract you’ll need to be able to prove that you are running a business and use a significant portion – usually 50% – of your energy to run your business. Whilst this may sounds like a lot, most people working from home and using lighting, heating and electricity for business purposes will be eligible. When you work out how much energy you use for business purposes remember to deduct appliances like fridges which would be on regardless from your figures.
Micro-businesses get an extra level of protection, to ensure that they aren’t taken advantage of by unscrupulous brokers or suppliers.
When firms work with a micro business they are required to put the end date and notice period on all fixed term contract bills, what’s more, microbusinesses benefit from a reduced notice period – just 30 days instead of 90. Smaller businesses can inform their supplier that they want to switch at any time in their contract, although the switch won’t actually occur until the notice period begins. When a microbusiness approaches the end of their contract, their supplier must let them know how much energy they’ve used throughout the contract, and what other deals are available to them.
If you’re a small business and want to discuss your energy usage, call us on 0800 411 8830 or fill in our online quote form.
Great customer service from Bhavni Manek to set up new business contracts...
"Had an excellent customer service experience with Bhavni Manek to set up new business contracts and run me through all the details. She was very efficient at finding quotes and answering questions and made me feel reassured about the transition to new energy suppliers."This review was posted by Emma Thomsen on the 18th of August 2017
Jessica Purnell at SwitchMyBusiness has …
"Jessica Purnell at SwitchMyBusiness has been most helpful and very efficient. Our business has made a real saving on our electricity supply and all it took was a few minutes on the telephone. Thank you"This review was posted by David Hanley on the 18th of August 2017
Mark Weeks did an excellent job in …
"Mark Weeks did an excellent job in giving me all the information I needed and explaining everything."This review was posted by Terry on the 18th of August 2017
This the second time I have used …
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Mark Weeks was my contact point with …
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