2019 Trends for Business Costs
What’s going to make 2019 the best year yet for your business? At Utility Swap, we love to help local businesses thrive. Unfortunately we can’t tell that big client of yours to sign another contract. What we can do it help you manage your overheads so that you have a stable profit for the coming year
We go through the 2019 trends for business costs to help you get ahead of the game. Here is what to expect in 2019:
2019 Trends for Business Costs – energy costs
Prices are at historic highs at the moment. High demand, limited supply, you know the drill here. And, it is the same picture with electricity costs, too.
Electricity price trends
Chart from: ICE
Gas price trends
Chart from: ICE
Utility Swap’s comments: There has been a dip over the last month in pricing, which is always nice to see. That being said, prices are still at historic highs. To prevent further price rises crippling their bottom line, a lot of companies see value in taking longer term contracts to secure a fixed price for the next 5 years. A lot of companies have seen a level of relief knowing that a fixed price contract will help protect their business against future price rises.
2019 Trends for Business Costs – card transactions
At the moment, credit card transactions usually carry a fee of around 2% (up to 3% depending on which bank you do business with). Although debit card is the preferred payment method among retailers and most businesses (see chart below), there is increased likelihood the card transaction costs between Britain and the EU will increase in the coming years if the UK leaves the European Union without a deal.
Chart from: Fiserv
Utility Swap’s comments: You don’t need to fall in despair in sight of the increased card transaction rates you may be called to pay in 2019. Utility Swap can help you manage your costs. We negotiate with suppliers on your behalf and get rates not available to the general public, allowing you to save money and time. Let us know if you’d like to chat
2019 trends for business costs – waste
You may have seen in the news earlier this year that China is not now taking any recycling from foreign countries –https://www.raconteur.net/
Charts from: PWC
You’ll see that the price for glass and plastic is falling, as recycling is a revenue for waste companies as it is sold on to be used again. Decreasing commodity prices will only lead to higher prices charged by waste collectors.
Utility Swap’s comments: Much like energy, a lot of businesses have seen the value in fixed contracts for waste collection. You too could find relief relief knowing that a fixed price contract will help protect your business against future price rises.
I’m still in contract, what can I do?
Does your contract not renew until 2020 or beyond? Don’t worry, there are still things that can be done to secure a price now, instead of whatever the price may be in 2020. Get in touch and we can help work out what you can do in a no obligation way
We love to help local companies thrive
We have helped over 500 local businesses to find lower energy, waste collection and card transaction costs:
- Send us your current bill so we can take look at your existing energy, waste or card transaction costs
- We negotiate with our suppliers to provide you with an array of no obligation quotes
- You can pick the quote that works for your company
Get in touch today and we can help you lower your business overheads