The cost-of-living crisis is hitting not just individuals but businesses too. As prices rise across the economy, many firms are finding it hard to make ends meet and some are closing.
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According to the Office for National Statistics, 41% of trading businesses reported a rise in the price of goods or services at the end of last year. Around a quarter (26%) said they expected the price of goods and services sold to rise, which can have a knock-on effect throughout the business community.
Perhaps unsurprisingly, energy costs were the top reason for businesses raising their prices, with 35% reporting this as a factor. This was followed by the price of raw materials (27%) and labour costs (23%).
With inflation staying stubbornly high, it can paint a gloomy picture.
But there are things which can potentially alleviate the mounting costs for businesses.
Use business utilities consultants to ease costs
Paul Mulholland runs Morscot Utilities, a business utilities consultant which specialises in reducing companies’ costs. They cover everything from gas, electricity and water to telecoms, phone systems, card terminals, mobiles and internet.
Paul insists there are savings to be made even in the current climate. But the first vital step is for businesses to seek out help from utility consultants such as himself.
He says: “Give me a copy of all your bills and I’ll go away and see what I can do. Nearly all the time I’ve got something because we’ve got so many products. I’m either going to have a cheaper mobile deal, a cheaper gas deal or a cheaper water deal. There will almost definitely be something.”
So how do business utilities consultants work?
While companies will deal with suppliers independently, business utilities consultants will represent multiple firms and do deals in bulk. This allows them to secure a better price than if someone goes to the supplier directly.
Paul adds: “Going to Scottish Gas direct you might be using 100,000 units a year and I’m buying a few hundred million units a year. Obviously they’re going to give me a better price. So even though you’re a big company you’re still not going to get the price we get.”
That obviously means a direct saving. But there are other reasons Morscot is the right option for your business. Decades of experience mean they’ve also got the expertise and relationships to ensure a better deal.
Paul says: “I’ve been doing this for 25 years and have a director-to-director relationship with many of the suppliers. What we’ve got that’s unique, is I can negotiate really good rates because of the relationship I’ve got with suppliers. We’ve got good relationships with account managers. They’ll try to get us the best price.”
A personal touch that fosters trust
Morscot Utlilites are a family-run firm who establish strong relationships with their clients. Paul has built up and maintained long term client relationships over 10-plus years.
Paul says: “I’ll go anywhere and sit down with somebody for free and have a look at their bills and see if we can help them. So you’ve got nothing to lose. It’s a free service. You only sign up with us if we beat what you’ve got.”
The other huge advantage of business utilities consultants is they do the extra legwork, sitting on hold on phones and scouring the market for deals. That frees up time for you to focus on what really matters to your business.
Paul adds: “There’s a personal touch at Morscot. We’ll do everything for them. We’ll spend an hour on hold for the customer. We do the running about for you.”
If you’re finding the cost of living crisis is hitting your business, it may well be worth your while trying Morscot Utilities.