Can I have a business energy contract if I work from home?
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The Consumer Prices Index (CPI) fell 0.1% in year to April 2015, according to the Office for National Statistics (ONS). What does this mean for UK SMEs?
As the ONS pointed out in their full bulletin, this is the first time the CPI has fallen over the year since official records began in 1996 and the first time since 1960 based on comparable historic estimates.
A decrease in the general price level of goods and services like this is deflation and is unusual – these prices usually increase, which is inflation.
The major contributor to the current deflation are food prices, which fell by 3.0%, and motor fuel prices, which fell by 12.3%. The largest downward contribution came from transport services – notably air and sea fares – with the timing of Easter this year a likely factor.
The falling price of oil is a main contributor to these reductions in prices. Oil prices are falling for several reasons, including weak demand for oil as European economies struggle to grow and major Asian economies slow down, and improved supply of oil, partially due to increased US production through fracking.
Many fear deflation as a symptom of economic ill health. But experts say that the UK’s brief slip into deflation is very different to the long periods of deflation, such as in Japan, that can turn into a prolonged economic depression (as seen in the 1930s).
In fact, the Chancellor, George Obsourne, was quoted in the Guardian as saying that “we should welcome the positive effects that lower food and energy prices bring for households at a time when wages are rising strongly, unemployment is falling and the economy is growing”.
The same positive effects may be seen for businesses. Lower food, fuel and energy costs will help many of Britain’s small businesses during an otherwise challenging period.
To take advantage of the current favourable prices UK companies should look to compare business energy supplier and lock in low business energy prices for the next two, three or four years.
SwitchMyBusiness.com can cut business energy bills by up to 70% with exclusive supplier rates. You could save thousands with a call that takes less than five minutes. For an impartial expert option, fill in the form at the top right of this page or call 0800 411 8830
"Very easy. Bea Luseni very efficient & knowledgeable."This review was posted by Alan Duffy on the 31st of March 2017
Super helpful and easy to work with
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"Switch my business has not only helped my SME secure a good energy deal for the second year running but Jessica swiftly found a alternative supplier for me when I was let down on the day of switching by the new contractual provider I had chosen some 4 months previously. Being suddenly out of contract and without provider is everyone's energy nightmare. Greatest thanks."This review was posted by S McMillan on the 29th of March 2017
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Quick & Easy
"Kabibi was very helpful and the whole process was very efficient. The one small reservation I had was that I was phoned up by Kabibi almost immediately having received my online quote - which wasn't enough time for me to finish reading the quotes! Fortunately she was able to assist me in a greater savings on both Gas & Electricity, and so as long as the switchover is seamless I will remain very happy with the service."This review was posted by Amanda Brown on the 21st of March 2017