Seven Energy-Saving Tips For Small Businesses
According to the BLS, approximately 20 percent of all small businesses don’t make it past their first year. And another 30 percent die before the second. One of the reasons is failing to be financially viable.
There’s a long list of business expenses that can quickly become a financial constraint for any business. These include rent, salaries, maintenance, and much more. However, many business owners tend to underestimate the significant cost of energy while running daily operations. To run a business smoothly, you need to be efficient and utilize resources smartly. This also calls for intelligent use of energy. Being energy-inefficient can quickly take your fixed costs to the sky without you even noticing.
Buying electricity or gas can exceed your overall budget, especially if you are operating for longer hours. Not to mention, it also increases your business’s carbon footprint, making your business model less eco-friendly. Therefore, it is essential to keep a proper check on when, why, and how much energy your business consumes. Also, if you are already planning to reduce your operational cost, start with saving some energy. Additionally, an online MBA can help you identify more ways to cut business costs and increase operational efficiency. Regardless, here are a few energy-saving tips for small business ventures.
Opt for an energy audit for your workplace
First and foremost, get the entire company checked by professional energy auditors. If you are low on budget, reach out to a utility company that offers energy audits free of charge. A thorough energy audit of your business premises will help identify how much energy you consume daily and make it more efficient and low-cost.
Invest in energy-efficient office equipment
If you’re starting your business, then this is probably the right time to make such decisions. There is nothing wrong with investing more to pay fewer expenses in the future. Nowadays, you can easily upgrade your office equipment and buy energy-efficient products. Many brands are selling eco-friendly and energy-efficient office equipment that lasts longer and consumes less power. Be it energy-saving photocopiers, appliances, or computers, invest wisely. Since you use such equipment daily, look for efficient alternatives right away.
Replace those costly light bulbs with more energy-efficient ones
It is a simple way to cut down daily energy costs drastically. By using the traditional incandescent bulbs, you are only troubling yourself. Just replace those bulbs with LED light fixtures, and you will notice a massive difference in your utility bills. Not only are they relatively inexpensive, but easy to install and save way more power than standard bulbs. Also, to further cut down the light bulb usage, let that natural light inside the workplace by keeping shutters and blinds rolled up. You can also encourage your employees to customize their work schedules to make the most out of daylight. You’ll consume less energy if the lights do not need to be switched on for longer.
Power off equipment on time
Most of the employees are habitual of not looking after their systems or general office equipment. They just put leave devices on sleep mode or standby. Discourage this habit and send a memo telling employees to switch off the equipment after using it. Leaving machines like printers, microwaves, scanners, air conditioners, lights, and coffee machines on standby can put a dent in your pocket. So be wary of that, and switch them off properly and timely. This practice will also prevent them from short-circuiting in case of a power surge
Look for a programmable thermostat
A programmable thermostat can automatically make adjustments around the workplace, like managing the temperature when not many people are working. This way, you can regulate air conditioning and control energy consumption and costs accordingly. Please ensure to place your thermostat away from office equipment and direct sunlight. Moreover, keeping a watch on your air conditioner usage will help in saving a lot of money.
Check the condition of your roof and ceiling
Maintenance of your roof and ceiling is essential to save a few bucks every month. Improper insulation can affect how cold or hot your office space is, thus impacting the performance of your cooling system and how much energy it consumes. Losing cooling to the environment can make a considerable difference in your energy costs without you even realizing it until you see your bills. Therefore, call in a professional and have the person inspect your office space’s insulation. Insulating your office ceiling will keep the property warm in the winters and cool in the summers. You can also get a paint job done, but ensure to invest in heat-reflective paint. It will further help keep the workplace cold during summers as less heat gets absorbed through the paint.
Consider installing solar panels
Well, this should not come as a shocker, but did you know that solar power is absolutely free? Yes, that’s right, barring the initial investment. Solar power is also a renewable and clean way to source energy. It also helps reduce your business’s carbon footprint and make it more eco-friendly and sustainable. Solar panels are a fruitful investment that promises a high return. The initial cost may be high for a small business, but it will be worth it in the long haul. By making this investment, your monthly electricity bill will be comparatively lower than your previous bills.
It all comes down to efficiently using your working capital and not wasting it on paying heavy utilities. Any small business can operate wisely, all the while investing in the right resources. Therefore, follow the tips mentioned above and save some money. Your consciousness and interest in energy-saving can benefit your venture a lot, which can soon progress into a bigger firm!