Businesses of all industries are looking for ways to improve their bottom line and grow their business despite the challenging economy. While every company is looking for ways to increase foot traffic and promote their goods and services, there are always monthly utilities to pay to keep the business running. Unfortunately, business owners are often too busy with daily operations to notice the hidden fees, rate increases, or service changes that can make utility costs much higher than they should be. In today's Aegis blog post, we look at three ways companies can try to lower their monthly utility costs to ensure a healthier bottom line each month.
Review Current Contracts for Hidden Fees and Charges
Every company relies on basic utilities in order to run their business, such as electricity, internet providers, alarm systems, and phone services. However, the fees and charges a business first accepts as a new customer can dramatically change over time, often without the business owner being aware of hidden fees, extra charges, and rate increases. To avoid blindly paying monthly utilities that are much higher than they should be, business owners should regularly review their bills to identify any new rates, fees, or service charges. This is especially true for utilities that start with introductory periods or special rates of service that end on a certain date. Company owners should ensure they understand every charge and fee of their monthly bills to ensure accuracy and proper service.
Consider Different Payment Options
Another way companies can work to lower their monthly utility bills is to consider alternate payment options that can result in lower payments or premiums. For example, some utility providers offer the option of paying in advance in exchange for lower rates. In addition, businesses might consider paying utility bills with company cards that can earn them cash back or rewards they can apply back towards their business in order to save more each month. Alternatively, utility providers may also offer discounts for customers paying via electronic bank transfers instead of credit card payments where they are charged card processing fees.
Comparison Shop Between Providers
Finally, companies should also consider comparison shopping between utility service providers to ensure they are getting the best possible deal for their services. Over time a company's utility needs can change and they might need more or less of a specific kind of service. For example, a restaurant or bar might find they need a much smaller cable or satellite package for showing games or news, or an office or retail shop might need faster internet speeds to run daily operations. Often providers will try to attract new customers by offering lower monthly rates, waiving installation fees, or providing better service options. Companies can leverage their needs with competing service providers to find the best possible rates for lowering monthly utility expenses.
Aegis Insurance & Financial Services is committed to helping companies by offering a full range of Commercial Insurance policies that meet unique industry needs, all at competitive rates. Clients can have the peace of mind that comes with comprehensive, reliable coverage that offers financial protection and stability in case disaster strikes. Contact our Aegis office today at 713-850-7622 for more information about our full suite of business insurance policies, or fill out our online form to request a free quote!