Small Businesses Yearn for Energy Help
In a survey conducted across nine countries, including a range of competitive and non-competitive energy markets, Accenture explored the energy needs and preferences of 2,200 small- and medium-sized businesses (SMBs) and found that only 35 percent of the respondents believe that the products, services and support currently offered by energy providers are specific to their business needs.
Accenture’s survey identified three areas where providers could better support SMBs while also generating much-needed new revenue streams for themselves:
- Helping SMBs boost the bottom line. More than half (52 percent) of SMBs in non-competitive markets and 37 percent in competitive markets believe that utilities should help them better manage energy costs. More than half (52 percent) reported that their electricity expenditure exceeds 10 percent of their annual revenue. In fact, in competitive markets, more than two-thirds (67 percent) of businesses reported they would switch providers if that would result in a reduced bill.
- Tailoring products and services and aligning with SMBs’ business cycle. Many SMBs are looking to their utilities to help them manage energy costs, and they want tailored solutions, according to Accenture. As many as 87 percent of the SMB survey respondents believe it is important for utilities to offer solutions tailored to their business, and 53 percent said they would be willing to pay a premium for such services. As many as 74 percent said they are interested in products that would allow them to generate their own electricity, such as solar panels or wind turbines. Survey respondents said that one of the best times for utilities to approach their companies about new energy-related products and services is during the budgeting period for the year ahead.
- Helping SMBs attract customers. While reducing energy costs is an important goal for many SMBs, driving revenue remains the top priority, and utilities can help them achieve that goal as well, according to Accenture.
Accenture’s research also makes it clear that when energy providers are engaging SMBs, it is critical that they trust these companies. While the majority of respondents said their companies frequently take actions to reduce energy use, only 38 percent claimed to trust their utility to inform them about energy-saving options. Furthermore, 83 percent of the respondents said that if given the choice, they would consider a non-traditional energy provider, such as a retailer, energy broker, telecommunications company or online site for purchasing electricity, energy-efficient products or related services.
Accenture’s survey was conducted online in native languages for Accenture by Harris Interactive. Respondents were responsible for or contribute to electricity and/or gas related decisions at their place of business.
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