According to the Small Business Association, more than half of Americans either own or work for a small business, and these create two out of three new jobs in the U.S. every year. To recognize that vital role in America’s economic engine, the SBA organizes an annual National Small Business Week, a celebration that includes a series of events in cities around the U.S.
While a week of recognition is great, we know that being a small business owner is a 24/7 job, 365 days a year. We also know that a small business’ fixed costs can play a critical role in managing profits and success. For a small business, energy cost is just one factor when it comes to overhead, but it’s a big one that can affect the bottom line.
ENERGY STAR® estimates that America’s small businesses spend more than $60 billion a year on energy. To reduce small business energy cost, the government agency suggests strategies to cut utility expense 10 to 30 percent without sacrificing service, quality, style, or comfort. By putting some of these suggestions into practice, you could see a significant return on the investment into your small business. Cost-cutting ideas can create efficiencies that save you money.
Have you looked at what you’re paying as your small business’ energy cost? If you haven’t looked closely at where and how this money is being spent, now’s the time. Here’s our small business checklist for you to improve your bottom line.
Want to reduce your small business energy cost? Asking some of the following questions can be a good way to start understanding how you’re using energy, which in turn can help provide small business energy cost-cutting ideas.
The questions, of course, are just a first step. Making substantive changes to a small business’ fixed costs requires a long, hard analytical look at the specifics of various bills and productivity patterns. In the meantime, however, making even a few of the following changes can potentially positively impact the bottom line. (We covered small business heating and cooling energy saving tips in an earlier blog post.)
Electricity and Lighting
Small changes in lighting and fixtures can make a huge difference in small business energy costs.
If you haven’t put a lot of thought into how you control the temperature in your home, perhaps now is the time to look at the benefits of a smart thermostat. You might be doing just fine with a “regular” wall unit, but you might be able to cross one thing off your daily to-do