The study shows that only one quarter (25 per cent) of small business leaders can easily see how much electricity, gas and water their business is using and less than a third (30 per cent) are able to access energy consumption information.
More than half (66 per cent) of small business owners delegate utilities purchasing and management to other staff, including their office manager.
Just one-fifth of respondents reported that they look after utility suppliers themselves, yet, more than one in ten small business leaders (11 per cent) admit they do not know who in their business is responsible for this important overhead. This is despite the rising price of utilities remaining the main source of cost inflation for over half of all small businesses.
Our study shows there is a lot of confusion about utilities amongst small businesses,” says Michael Dent from Utilitiwise, which commissioned the research.
“Misinformation and misunderstanding mean small businesses are suffering because they dont know how to navigate the utilities markets nor have the consumption necessary to act for themselves. Poor buying and management of utilities stops growth and damages businesses bottom lines.”